Greg Hayes, chairman and CEO of United Technologies Corp. (UTC)—parent of Pratt & Whitney and UTC Aerospace Systems—told a financial teleconference July 25 he is eyeing “structural” changes to management by year-end. The goal is to “flatten” UTC’s bureaucracy to enable decision makers to get closer to the products, services and company’s customers, he said. Hours later, in another teleconference, Wayne Pensky, who is retiring soon as chief ...

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