RTX board chair to step down in April

Gregory J. Hayes will step down as executive chairman of Arlington County-based RTX in April, when he will be replaced by Christopher T. Calio, president and CEO of the Fortune Global 500 aerospace and defense contractor.

Hayes notified RTX of his plans to step down as executive chairman and from the board “prior to the company’s 2025 annual meeting,” according to a Monday news release. That meeting will be held in the spring, according to a company spokesperson who declined to provide a date when Hayes notified the board.

Hayes was a key player in the formation of RTX, which resulted from a 2020 merger between the aerospace business of United Technologies Corp. and Raytheon Co. At the time, Hayes led United Technologies as CEO, a role he’d held since 2014.

“Greg has led RTX since the company’s inception and through significant aerospace and defense industry change,” Fred Reynolds, RTX lead director, stated in the announcement. “Greg’s extraordinary visionary leadership over the past 35 years has created tremendous value for employees, customers, partners and investors, and his steady guidance has steered a successful leadership transition that positions the company for success well into the future.”

Calio joined RTX in 2022 as chief operating officer and became a member of the company’s board the following year. On May 2, 2024, Calio was elected president and CEO of the company and Hayes became the board’s executive chairman.

Previously, Calio was president of Pratt & Whitney, a RTX subsidiary that designs and manufactures aircraft engines. He joined United Technologies in 2005 as an assistant counsel and went on to serve in multiple leadership roles.

In April, Hayes will begin serving as a special adviser to Calio, a role he will hold through Jan. 2, 2026.

“As anticipated, as CEO, Chris Calio has continued to drive RTX growth by focusing on operational execution and technology innovation at the pace of customer needs,” Hayes said in a statement. “I am confident that, as chairman and CEO, he will continue to execute on the strategic priorities that deliver long-term growth for all stakeholders. ”

Last week, RTX reported adjusted sales in 2024 of $80.8 billion, a 9% increase over the previous year. It has more than 185,000 employees. The company moved its headquarters to Arlington in 2022. Raytheon Technologies Corp. rebranded as RTX in 2023.

“We have strong momentum heading into 2025 with a $218 billion backlog and unprecedented demand for our products and solutions,” Calio stated in a Jan. 28 announcement.