Thomas A. Kennedy, the chairman of Raytheon Technologies Corp. and a key player in the formation of the company one year ago, will retire June 1, company officials announced Monday, clearing the way for CEO Gregory Hayes to step into the role.
Kennedy, a 38-veteran of the former Raytheon Co. defense business, has served as chairman since April 2020, when Raytheon Co. and United Technologies Corp., then based in Farmington, formally consolidated operations under the banner of Raytheon Technologies Corp.
“It has been my honor to lead this organization and our exemplary employees around the world,” Kennedy said in a statement. “I have enjoyed the partnership with Greg and his talented management team, and I m confident the company will continue to deliver on redefining the future of aerospace and defense.”
ABC News
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UPS, Crocs rise; Eli Lilly, General Electric fall
Stocks that traded heavily or had substantial price changes Tuesday: UPS, Crocs rise; Eli Lilly, General Electric fall
ByThe Associated Press
• 1 min read
United Parcel Service Inc., up $18.32 to $194.13.
Solid delivery volume helped the package delivery service beat analysts first-quarter profit forecasts.
Raytheon Technologies Corp., up $1.81 to $82.81.
The aerospace and defense company s first-quarter profit beat Wall Street forecasts.
Eli Lilly and Co., down $5.01 to $182.21.
The pharmaceutical company s first-quarter profit and revenue fell short of Wall Street forecasts.
Marsh & McLennan Cos., up $5.01 to $132.21.
UPS, Crocs rise; Eli Lilly, General Electric fall sfgate.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from sfgate.com Daily Mail and Mail on Sunday newspapers.
Strong sales growth in the Americas and Asia after a year marred by COVID-19 nearly doubled Farmington elevator manufacturer Otis Worldwide Corp.’s first-quarter profits, prompting company officials to improve their full-year outlook on organic sales to 4% to 6%.
“There continues to be a recovery in North America,” said Otis President and CEO Judy Marks during a conference call with investors Monday. “The U.S. and Canada, especially, are back and very strong.”
Marks also pointed to surging new equipment sales in large Chinese cities as an indication that demand for Otis’s products which include not only elevators but escalators, moving walkways and related equipment is on the rebound.
Aerospace & DefenseEXCLUSIVE Space entrepreneur Max Polyakov acquires South Africa s Dragonfly satellite maker
Eric Johnson
3 minutes read
Max Polyakov, an ultra-wealthy entrepreneur with ambitions of building a space transportation empire, has acquired South African satellite maker Dragonfly Aerospace, he told Reuters.
The deal gives Polyakov an anchorpoint in the booming but fiercely competitive market for small-satellite technology, and a potential revenue source for rocket maker Firefly Aerospace, which is majority-owned by Polyakov s Noosphere Ventures investment fund.
He declined to disclose the value of the deal, which closed earlier this month. It has not been previously reported. An announcement is expected on Tuesday.