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Anthony “Toby” O’Brien stepped down as chief financial officer of Raytheon Technologies Corp., the company said Friday. Neil Mitchill, the corporate vice president, has been named the new CFO.
O’Brien, 56, spent 34 years at Raytheon Co. and had been its CFO since 2015. He made $5.9 million in 2020, according to a document filed with the U.S. Securities and Exchange Commission.
He also is eligible for early retirement benefits, according to the document.
"Toby has played a pivotal role in the establishment and integration of Raytheon Technologies,” Greg Hayes, Raytheon Technologies’ CEO, said in a news release.
“We thank him for his many contributions and wish him well in the future."
Mitchill joined United Technologies Corp. in 2014 as vice president for global financial services and worked in other positions with UTC before its merger with Raytheon Co., when he became corporate vice president of Raytheon Technologies.
Mitchill was “instrumental,” Hayes said, in Raytheon Technologies exceeding its goals for merger-related cost reductions. Collins Aerospace, a unit of Raytheon Technologies and Cedar Rapids’ largest employer, has been seeking $85 million in cost reductions in 2021, according to past comments by Hayes.
“I know he will continue to deliver significant value to the organization given his experience across our global businesses,” Hayes said in the Friday release.
“I look forward to his partnership as we continue to execute on our strategic priorities and deliver long-term value for shareholders.”
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