Raytheon Technologies started trading Friday on the New York Stock Exchange under the ticker symbol “RTX” after United Technologies Corp. and Raytheon completed their all-stock merger that was first announced in June 2019.
The Waltham, Mass.-based publicly traded combined company has approximately $74B in pro forma 2019 net sales and operates with about 195K employees worldwide focused on developing technologies across hypersonics, cybersecurity, avionics and directed energy, among other areas, Raytheon Technologies said Friday.
Greg Hayes, CEO of Raytheon Technologies, said the company will work to define the future of aerospace and defense through its focus on innovation, employees and operational and financial strength to drive long-term value for clients and shareholders. He added the company will also play its role in the fight against the COVID-19 pandemic.
“Our platform-agnostic, diversified portfolio brings together the best of commercial and military technology, enabling the creation of new opportunities across aerospace and defense for decades to come,” said Thomas Kennedy, executive chairman of Raytheon Technologies and a three-time Wash100 award winner.
The company’s executive leadership team also includes Anthony “Toby” O’Brien, chief financial officer of Raytheon Technologies. O’Brien previously served as CFO at Raytheon.
Raytheon Technologies also announced the appointment of presidents who will oversee the combined firm’s four business segments.
Stephen Timm, a more than 20-year defense and aerospace industry veteran, serves as president of Charlotte, N.C.-based Collins Aerospace Systems, which has approximately $26B in net sales for 2019.
Christopher Calio, formerly president of Pratt & Whitney’s commercial engines business, has been named president of East Hartford, Conn.-based Pratt & Whitney, which as approximately $21B in 2019 net sales.
Roy Azevedo, formerly president of space and airborne systems business at Raytheon, now oversees Raytheon Technologies’ intelligence and space business. The business segment is based in Arlington, Va., with pro forma 2019 net sales of about $15B.
Wesley Kremer, formerly head of Raytheon’s missile systems segment, has been selected to lead the combined company’s missile and defense business, which is headquartered in Tucson, Ariz., and has pro forma 2019 net sales of approximately $16B.