RTX, owner of Collins Aerospace, names new CEO

RTX, the owner of Collins Aerospace in Cedar Rapids, on Thursday named Christopher Calio as its new CEO.

Calio, the RTX president and chief operating officer, will succeed Gregory Hayes as CEO on May 2 at the 2024 RTX annual shareholders meeting.

Hayes, 63, will continue as executive chairman of the RTX board. Calio, 50, also was appointed to the company's board of directors effective Thursday.

“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. I have every confidence in his ability to lead RTX and drive the company’s long-term success.”

Fredric G. Reynolds, the board’s lead director, said in a statement Hayes “has had a remarkable career leading RTX.” He cited Hayes’ vision “to transform from a conglomerate to a top global aerospace and defense company, (which) has created tremendous value for shareowners, employees and our nation.”

He said Calio “has been disciplined in leading the company's operations and strategic growth strategy.”

Calio said in a statement he was honored to succeed Hayes, “who has built the best positioned portfolio in aerospace and defense,” and thanked the RTX board for its confidence in him.

Calio, named RTX chief operating officer and president in March 2022, led the realignment of RTX from four to three business segments: Collins Aerospace, Pratt & Whitney, and Raytheon.

Before his current position, Calio was president of Pratt & Whitney, where he led the business that designs, manufactures and services aircraft engines and auxiliary power units. He joined the company in 2005.

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Hayes has been responsible for leading 180,000 RTX employees and $67 billion in annual sales. He had a nearly 21-year career at United Technologies Corp., holding several senior leadership roles across finance, corporate strategy and business development, culminating with his appointment to CEO in 2014 and chairman in 2016.

As CEO, Hayes led the reshaping of UTC from industrial conglomerate to a focused aerospace company.

Beginning with the divestiture of Sikorsky Aircraft in 2015 and the acquisition of Rockwell Collins in 2018, Hayes continued to focus the business with the spinoffs of Otis Elevator Co. and Carrier Corp. in 2020.

Hayes then led the merger of UTC's remaining aerospace businesses, Pratt & Whitney and Collins Aerospace Systems, with Raytheon Company, to form RTX in April 2020.

The merger drove RTX stock price up 60 percent “despite significant headwinds, including a global pandemic, supply chain disruption, inflation and global conflicts impacting key markets,” the company said in a news release.

RTX has its headquarters in Arlington, Va.