United Technologies Elects Gregory Hayes As CEO; Backs FY14 Outlook

(RTTNews) - United Technologies Corp.(UTX) said that it has elected Gregory Hayes as its President, Chief Executive Officer or CEO and a director, after Louis Chenevert informed the Board of Directors of his retirement as Chairman and Chief Executive Officer, effective immediately.

UTC stated that Hayes has served the company for the last six years as the company's Senior Vice President and Chief Financial Officer.

The company further said that Edward Kangas, lead independent director, has been elected non-executive Chairman of the board.

UTC also reaffirmed its expectations of 2014 earnings per share of $6.75 to $6.85 and sales of about $65 billion. Analysts now expect earnings of $6.88 per share on sales of $65.26 billion.