FARMINGTON, Conn., July 27, 2017 /PRNewswire/ -- United
Technologies Corp. (NYSE: UTX) announced today that Philippe Delpech, President of Otis Elevator,
has elected to leave the company to accept another opportunity in
Europe.
Nora LaFreniere, Otis Vice President, General Counsel, and
Mark George, Otis Vice President, Finance & CFO, will
lead Otis Elevator in the interim until a successor is named. Mark
and Nora, with more than 44 years of combined UTC service, will
work together in the Office of the President, to ensure that Otis
remains on track with its digital and operational transformation
strategy.
"Otis benefits from a strong strategy and a leadership team that
is focused on executing our key priorities and digital
initiatives," said UTC Chairman and CEO Greg Hayes. "I am confident Otis is on the right
path to deliver on its commitments. We are thankful to Philippe for
his many years of service to United Technologies and wish him
well."
United Technologies Corp., based in Farmington,
Connecticut, provides high
technology systems and services to the building and aerospace
industries. By combining a passion for science with precision
engineering, the company is creating smart, sustainable solutions
the world needs. To learn more about UTC, visit the website or
follow the company on Twitter: @UTC.
Cautionary Statement
This press release contains statements which, to the extent they
are not statements of historical or present fact, constitute
"forward-looking statements" under the securities laws. From
time to time, oral or written forward-looking statements may also
be included in other information released to the public.
These forward-looking statements are intended to provide
management's current expectations or plans for our future operating
and financial performance, based on assumptions currently believed
to be valid. Forward-looking statements can be identified by the
use of words such as "believe," "expect," "expectations," "plans,"
"strategy," "prospects," "estimate," "project," "target,"
"anticipate," "will," "should," "see," "guidance," "confident" and
other words of similar meaning in connection with a discussion of
future operating or financial performance. Forward-looking
statements may include, among other things, statements relating to
future sales, earnings, cash flow, results of operations, uses of
cash, share repurchases and other measures of financial performance
or potential future plans, strategies or transactions. All
forward-looking statements involve risks, uncertainties and other
factors that may cause actual results to differ materially from
those expressed or implied in the forward-looking statements. For
those statements, we claim the protection of the safe harbor for
forward-looking statements contained in the U.S. Private Securities
Litigation Reform Act of 1995. Such risks, uncertainties and
other factors include, without limitation: (1) the effect of
economic conditions in the industries and markets in which we
operate in the U.S. and globally and any changes therein, including
financial market conditions, fluctuations in commodity prices,
interest rates and foreign currency exchange rates, levels of end
market demand in construction and in both the commercial and
defense segments of the aerospace industry, levels of air travel,
financial condition of commercial airlines, the impact of weather
conditions and natural disasters and the financial condition of our
customers and suppliers; (2) challenges in the development,
production, delivery, support, performance and realization of the
anticipated benefits of advanced technologies and new products and
services; (3) future levels of indebtedness and capital spending
and research and development spending; (4) future availability of
credit and factors that may affect such availability, including
credit market conditions and our capital structure; (5) the timing
and scope of future repurchases of our common stock, which may be
suspended at any time due to market conditions and the level of
other investing activities and uses of cash; (6) delays and
disruption in delivery of materials and services from suppliers;
(7) company and customer- directed cost reduction efforts and
restructuring costs and savings and other consequences thereof; (8)
the scope, nature, impact or timing of acquisition and divestiture
activity, including among other things integration of acquired
businesses into our existing businesses and realization of
synergies and opportunities for growth and innovation; (9) new
business or investment opportunities; (10) our ability to realize
the intended benefits of organizational changes; (11) the
anticipated benefits of diversification and balance of operations
across product lines, regions and industries; (12) the outcome of
legal proceedings, investigations and other contingencies; (13)
pension plan assumptions and future contributions; (14) the impact
of the negotiation of collective bargaining agreements and labor
disputes; (15) the effect of changes in political conditions in the
U.S. and other countries in which we operate, including the effect
of changes in U.S. trade policies or the U.K.'s pending withdrawal
from the EU, on general market conditions, global trade policies
and currency exchange rates in the near term and beyond; and (16)
the effect of changes in tax, environmental, regulatory (including
among other things import/export) and other laws and regulations in
the U.S. and other countries in which we operate. For
additional information identifying factors that may cause actual
results to vary materially from those stated in forward-looking
statements, see our reports on Forms 10-K, 10-Q and 8-K filed with
or furnished to the SEC from time to time. Any forward-looking
statement speaks only as of the date on which it is made, and we
assume no obligation to update or revise such statement, whether as
a result of new information, future events or otherwise, except as
required by applicable law.
UTC-IR
Contact:
|
Maureen
Fitzgerald
|
|
(860)
728-7907
|
|
maureen.fitzgerald@utc.com
|
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SOURCE United Technologies Corp.