Hello, Guest!
  • Thursday, April 18, 2024

Gregory Hayes: UTC to Mull Sikorsky Aircraft Spinoff


Gregory Hayes
Gregory Hayes

United Technologies Corp. (NYSE: UTX) is eyeing a potential spinoff of UTC subsidiary Sikorsky Aircraft as part of a strategic review into the helicopter manufacturing business.

“As part of the portfolio review announced last December, we are exploring strategic options for Sikorsky to determine the best way to enhance its long-term success and create improved long-term value for UTC’s customers and shareholders, ” Gregory Hayes, UTC president and CEO, said Wednesday.

Hayes added the review is aimed to assess whether Sikorsky can better operate as an independent company and if a spinoff of the business would allow UTC to focus on its core portfolio.

UTC is set to discuss the initiative during the company’s annual investor and analyst meeting on Thursday and expects the Sikorksy strategic review to wrap up before the end of this year.

Video of the Day

Related Articles

Christopher Calio to Succeed Gregory Hayes as RTX CEO in May Executive Moves

Christopher Calio to Succeed Gregory Hayes as RTX CEO in May

Christopher Calio, president and chief operating officer of RTX (NYSE: RTX), has been elected to the Arlington, Virginia-based aerospace and defense company’s board of directors and will assume the role of CEO in May. He will succeed Gregory Hayes, who will continue to serve as RTX’s executive chairman, the company said Thursday. “Today’s announcement reflects

Boeing Defense Chief Ted Colbert to Chair AIA Board of Governors Executive Moves

Boeing Defense Chief Ted Colbert to Chair AIA Board of Governors

Ted Colbert, president and CEO of Boeing’s (NYSE: BA) defense, space and security business, has been elected to serve as chair of the Aerospace Industries Association’s board of governors for 2024. Colbert, who also serves as an executive vice president at Boeing, succeeds Tom Gentile as chairman and will serve on the association’s executive committee

Fredric Reynolds Appointed Lead Independent Director at RTX Executive Moves

Fredric Reynolds Appointed Lead Independent Director at RTX

Fredric Reynolds, a member of the board of directors at RTX (NYSE: RTX) since April 2020, has been named lead independent director at the Arlington, Virginia-headquartered defense and aerospace contractor. He will replace Dinesh Paliwal, who will step down from the board on Dec. 1, and continue to sit on the board’s governance and public