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). Gregory J. Hayes, UTC’s chief financial officer, is replacing him as CEO. Edward A. Kangas, a member of UTC’s board, will become non-executive chairman. In a surprise announcement before the stock market opened Nov. 24, the ...

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