HARTFORD, Conn., Jan. 15, 2015 /PRNewswire/ -- United Technologies
Corp. (NYSE: UTX) today announced it will streamline its aerospace
organization and leadership structure to provide greater focus on
serving customers.
Alain Bellemare, President &
Chief Executive Officer of UTC Propulsion & Aerospace Systems
(PAS), has elected to leave the company at the end of the month. He
will continue to serve as a consultant to UTC. As a result of
Bellemare's decision and the successful integration of Goodrich
Corporation, UTC is streamlining its aerospace operations by
eliminating the PAS organization. Pratt & Whitney and UTC
Aerospace Systems (UTAS), both formerly under the PAS structure,
will continue as stand-alone business units.
"We thank Alain for his long and valuable service to the
company. Alain played a key role in the successful integration of
Goodrich and in positioning Pratt & Whitney for future
success," said UTC President & Chief Executive Officer
Gregory Hayes. "With his departure
and the Goodrich integration now largely complete, our new
streamlined organization better positions us to serve customers and
to focus on ensuring a successful entry into service and production
ramp-up of our Geared Turbofan engine and numerous aircraft systems
designed and developed by the UTAS team."
As a result of this organizational change, Pratt & Whitney
President Paul Adams will report
directly to Hayes, as will Dave
Gitlin, who has been promoted to President, UTC Aerospace
Systems, from his former position as leader of that company's
Aircraft Systems segment.
"Dave has extensive program management experience and business
leadership skills," Hayes said. "His strong customer relationships,
his focus on program execution and his engaging leadership style
will ensure continued growth in our important aerospace systems
business."
Also reporting directly to Hayes will be Mike Dumais, who has been appointed to a new
position as UTC Senior Vice President, Strategic Planning. Dumais,
who formerly led UTC Aerospace Systems' Power, Controls &
Sensing Systems segment, will help assess capital allocation
strategies and opportunities for portfolio and organizational
changes across the corporation.
"As I told investors in December, we will review our portfolio
in a disciplined and aggressive manner to ensure we continue to
deliver increased shareowner value on a sustainable basis," Hayes
said. "Mike has 16 years of experience with UTC and his background
in strategy, business development and operations makes him uniquely
qualified to lead this effort."
United Technologies Corp., based in Hartford, Connecticut, provides high
technology products and services to the building and aerospace
industries. To learn more about UTC, visit the website or follow
the company on Twitter: @UTC
This press release includes statements that constitute
"forward-looking statements" under the securities laws.
Forward-looking statements often contain words such as "believe,"
"expect," "plans," "project," "target," "will," "should," "see,"
"confident," "ensure" and similar terms. Forward-looking statements
may include, among other things, statements relating to future and
estimated sales, earnings, cash flow, charges, expenditures and
share repurchases; anticipated growth in sales; new products and
their entry into service; anticipated benefits of organizational
changes and other measures of financial or operational performance.
All forward-looking statements involve risks, uncertainties and
assumptions that may cause actual results to differ materially from
those expressed or implied in the forward-looking statements. Risks
and uncertainties include the effect of economic conditions in the
industries in which UTC operates, including financial market
conditions; fluctuations in commodity prices, interest rates and
foreign currency exchange rates; levels of research and development
spending; levels of end market demand in construction and in the
aerospace industry; the impact of government budget and funding
decisions on the economy; changes in government procurement
priorities and funding; delays and disruption in delivery of
materials and services from suppliers; company and customer
directed cost reduction efforts and restructuring costs and
consequences thereof; the impact of acquisitions, dispositions and
similar transactions; challenges in the development and production
of new products and services; the impact of legal proceedings,
investigations and other contingencies; pension plan assumptions
and future contributions; the effect of changes in tax,
environmental and other laws and regulations and political
conditions; and other factors beyond our control. The
forward-looking statements speak only as of the date of this press
release and we undertake no obligation to update or revise any
forward-looking statements as of a later date. For additional
information identifying risks and uncertainties that may materially
affect results, see UTC's reports on Forms 10-K, 10-Q and 8-K filed
with the SEC from time to time, including, but not limited to, the
information included in UTC's Forms 10-K and 10-Q under the
headings "Business," "Risk Factors," "Management's Discussion and
Analysis of Financial Condition and Results of Operations" and
"Legal Proceedings" and in the notes to the financial statements
included in UTC's Forms 10-K and 10-Q.
UTC-IR
Contact: John Moran
(860) 728-7062
www.utc.com
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SOURCE United Technologies Corp.