Item 5.02. Departure of Directors or Certain Officers; Election of Directors;
Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.
On January 23, 2023, the Board of Directors of Raytheon Technologies Corporation
(the "Company") appointed Christopher T. Calio as the President of the Company,
effective March 1, 2023, in addition to continuing as the Company's Chief
Operating Officer. Mr. Calio will succeed Gregory J. Hayes as President, who
will continue to serve as the Company's Chairman and Chief Executive Officer and
to whom Mr. Calio will continue to report.
Prior to his appointment as the Company's Chief Operating Officer, which was
effective March 1, 2022, Mr. Calio, 49, served as President, Pratt & Whitney
beginning January 2020. From February 2017 to December 2019, he served as
President, Commercial Engines, Pratt & Whitney, and as Chief of Staff to the
Chairman & CEO from February 2015 to January 2017. Mr. Calio joined the Company
in 2005 as an Assistant Counsel and served in positions of increasing
responsibility across the Company, including as Vice President & General Counsel
of UTC Aerospace Systems and Vice President & Counsel, Commercial Engines, Pratt
& Whitney. Mr. Calio received his B.A. in Political Science from Trinity
College, as well as a J.D. and an MBA from the University of Connecticut.
On January 23, 2023, the Board of Directors of the Company approved the
following compensation actions for Mr. Calio in connection with his appointment
as President: (i) annual base salary increase from $900,000 to $1,000,000,
effective March 1, 2023 and (ii) the grant of a 2023 long-term incentive ("LTI")
award with an estimated value on the grant date of $10,000,000, comprised of 60%
performance share units and 40% stock appreciation rights, to be made on the
same day as the Company's annual executive LTI awards to other Company officers.
Item 9.01. Financial Statements and Exhibits.
(d) Exhibits.
Exhibit Number Exhibit Description
104 Cover Page Interactive Data File - the cover page XBRL tags are embedded
within the Inline XBRL document.
--------------------------------------------------------------------------------
© Edgar Online, source Glimpses
RTX CORPORATION 
