In a major management change, Pratt & Whitney president Louis Chênevert has been named president and chief operating officer of parent company United Technologies (UTC). He joins chairman and chief executive George David, who plans to retire in about two years, in a new office of the chief executive.
David says UTC “jumped the gun” on naming a successor to ensure that Chênevert gains two years of experience of running the multi-industry company before taking over as chief executive. He credits Chênevert, who joined UTC’s Pratt & Whitney Canada unit in 1993 and became P&W president in 1999, with the “transformation” of the engine manufacturer following its problems with the PW4000 large commercial turbofan.
Chênevert is replaced as president of engine maker P&W by Steve Finger, who was president of UTC company Sikorsky Aircraft. Former P&W executive Finger is replaced as Sikorsky president by Jeff Pino, who was senior vice-president, strategy, marketing and commercial programmes at the helicopter manufacturer, where a strike by production workers is under way.
Some analysts expressed surprise that UTC chose someone from its aerospace business to succeed David, who has been chief executive since 1994. Aerospace makes up less than 40% of the company’s revenues, which rose 14% last year to $42.7 billion and are expected to grow another 8% this year to more than $46 billion. P&W’s 2005 revenues were $9.3 billion, Hamilton Sundstrand’s $4.4 billon and Sikorsky’s $2.8 million.
UTC’s elevator, air conditioning and fire and security businesses make up the bulk of its revenues.
- Sikorsky is to open an engineering design centre in Bozeman, Montana, which by the end of 2006 will employ 40 engineers.
GRAHAM WARWICK / WASHINGTON DC
Source: Flight International
