Gregory Hayes will step down as CEO for aerospace and defence giant RTX on 2 May, 2024. Although Hayes will continue to serve as executive chairman of RTX, Christopher T. Calio will succeed Hayes’ position.
The change comes amid the company’s engine woes as its engine manufacturing division Pratt & Whitney (Pratt) battles ongoing powder metal manufacturing issues on components of its PW1000G GTF engine.
Calio has been a part of the company since 2005. In his previous role as president of Pratt he led the design, manufacture, and service of aircraft engines and auxiliary power units.
“Chris has a deep understanding of the industry, our customers’ needs and our operations,” said Hayes. “I have every confidence in his ability to lead RTX and drive the company’s long-term success.”
Board lead director Fredric Reynolds noted that Hayes had “created tremendous value for shareowners, employees, and our nation” during his tenure. He added: “The board is very pleased to have Chris Calio succeed Greg Hayes as RTX CEO. Chris has been disciplined in leading the company's operations and strategic growth strategy.”
Calio said: “As a leadership team, we are focused on driving operational excellence and accelerating technological innovation as we deliver on the record backlog of customer demand and meet shareowner expectations.”