RTX has confirmed that Chris Calio will succeed Greg Hayes as chief executive on 2 May.
Calio is currently president and chief operating officer, while Hayes will continue as executive chairman after the annual shareholders’ meeting on that date.
The transition, which had been flagged and is underway, comes as the largest aerospace and defence company by revenue continues a realignment that has seen it consolidate from four to three business units – Collins Aerospace, Pratt & Whitney, and Raytheon – with RTX replacing Raytheon Technologies as the parent brand.
Hayes, who also presently serves as chairman, says the move reflects a “disciplined succession planning process”, and praises Calio’s “deep understanding of the industry, our customers’ needs, and our operations”.
Calio - who headed Pratt & Whitney before becoming chief operating officer of the then Raytheon Technologies in March 2022 after Raytheon’s merger with United Technologies - has spearheaded the restructuring process. He joined United Technologies in 2005.
That restructuring has seen RTX acquire a number of businesses, including aviation data provider FlightAware and satellite technology company Blue Canyon. At the same time, lower margin entities specializing in cyber security, training and space launch services have been divested.
RTX has also inherited the mantle of the industry’s biggest player, with $67 billion in annual sales and 180,000 employees. Its legacy businesses include B/E Aerospace, Goodrich, and Rockwell Collins. Prior to the merger, Raytheon was one of the USA’s largest defence contractors.
Hayes who became chief executive of United Technologies in 2014, led that business’s merger with Raytheon in April 2020.
