RTX [RTX] on Thursday said that Chris Calio, president and chief operating officer (COO), will become CEO of the aerospace defense giant on May 2, 2024, succeeding Greg Hayes, who has led the company since the 2020 acquisition by United Technologies Corp. (UTC) of Raytheon Co.
Calio, 50, became COO in 2022 and a year later added company president to his roles, overseeing the realignment of Raytheon’s two defense segments into a single operating sector as part of RTX.
Hayes, 63, will continue to serve as executive chairman after the CEO succession, which will occur in conjunction with the company’s annual shareholders meeting.
Calio led RTX’s Pratt & Whitney commercial and military aircraft engine segment before becoming COO.
“Today’s announcement reflects the board’s deliberate, disciplined succession planning process,” Hayes said in a statement. “Chris has a deep understanding of the industry, our customers’ needs and our operations.”
Hayes became chairman of RTX in 2021. He led UTC as CEO since 2014 and became chairman of the multi-industrial company in 2016.
RTX has $67 billion in annual sales.