Louis Chenevert, the architect of the biggest aerospace and defense (A&D) acquisition ever and a driving force behind Pratt & Whitney’s geared turbofan (GTF) engine, has stepped down as chairman and CEO of United Technologies Corp. (UTC). UTC CFO Gregory Hayes is replacing him as CEO. UTC board member Edward Kangas will become non-executive chairman. In a surprise announcement before the stock market opened Nov. 24, the Hartford, Connecticut-based parent of Pratt, Sikorsky and ...

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