United Technologies elects chairman and lead director
Mr. Hayes will serve as chairman, chief executive officer and president. Mr. Hayes has been President, Chief Executive Officer and director since November 2014.
He previously served for more than six years as the companys Senior Vice President and Chief Financial Officer. During this time, UTC successfully acquired and integrated Goodrich Corporation and acquired a majority interest in the International Aero Engines (IAE) program, streamlined its Carrier business and fire and security portfolio, and divested more than $8 billion of non-core businesses.
Mr. Hayes came to UTC through the 1999 merger with Sundstrand Corporation, where he served in a number of leadership positions, and became UTCs Senior Vice President and Chief Financial Officer in 2008. In this role, he also had responsibility for UTCs Corporate Strategy group.
Mr. Hayes earned a bachelor's degree in economics from Purdue University in 1982 and is a Certified Public Accountant. He also serves on the Board of Directors for Nucor Corporation), the largest steel producer in the United States.
He succeeds Edward A. Kangas, who has served as non-executive chairman since November 2014.
Mr. Kangas is the former Chairman and CEO of Deloitte, Touche, Tohmatsu (audit, tax and consulting services), a position he held from 1989 to 2000.
Mr. Kangas is also a Board member of Hovnanian Enterprises Inc., Intelsat S.A. and Tenet Healthcare Corporation (non-executive Chairman 2003 to 2015), Deutsche Bank USA (a non-public company) and a former director of Intuit, Inc. (2007 to 2016), Allscripts Healthcare Solutions, Inc. (2010 to 2012) and Eclipsys Corporation (2004 to 2010).
He is a trustee of the Committee of Economic Development. He has been a UTC director since 2008.
The non-management directors also designated Mr. Kangas to serve as the independent lead director, a role he previously served in from April 2013 until his election as non-executive chairman in 2014. ■
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