HARTFORD, Conn., May 12 /PRNewswire-FirstCall/ -- United Technologies
Corp. (NYSE: UTX) has appointed Ari Bousbib president of its commercial
companies, and UTC executive vice president. He will report to UTC
President and Chief Executive Officer Louis R. Chenevert. Succeeding
Bousbib as Otis president is Didier Michaud. Both appointments are
effective immediately.
In his new position Bousbib, 47, will have operating responsibility for
the corporation's commercial businesses, which include Otis, Carrier, UTC
Fire & Security, and UTC Power. The commercial business unit presidents
will report to Bousbib.
Under Bousbib's leadership Otis revenues nearly doubled and operating
profits tripled. Operating margins expanded by more than 700 basis points
from substantial productivity gains and product cost reductions. During
this period, Otis also gained significant global market share.
"This impressive operating record makes Ari uniquely qualified for his
new role," Chenevert said. "Ari's appointment reflects the opportunities in
front of our commercial businesses. He will work closely with the business
units' leadership to execute strategic initiatives including bringing
energy efficient, environmentally friendly solutions to urbanizing markets
around the world. As I organize my leadership team for success, this change
will optimize UTC's ability to capture market opportunity and deliver
strong results."
Additionally, Bousbib will assume leadership of United Technologies
International Operations, which has offices in Beijing, Singapore,
Brussels, Moscow, and Seoul.
Bousbib joined UTC in 1997 as vice president, strategic planning. He
oversaw important changes to the corporation's business portfolio,
including the acquisition of Sundstrand and the divestiture of UTC's
automotive business. He was named chief operating officer at Otis in
December 2000, and he was named Otis president in April 2002.
Michaud, 50, joined Otis in June 1981 and he has held key leadership
positions in the company's European operations. In July 2004 he was named
president of Otis' United Kingdom and Central Europe operations.
United Technologies, based in Hartford, Conn., is a diversified company
providing high technology products and services to the global aerospace and
building industries.
UTC-IR
Contact: Peter Murphy, UTC
(860) 728-7977
John Moran, UTC
(860) 728-7062
SOURCE United Technologies Corp.
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Related links:
http://www.utc.com
http://www.prnewswire.com/comp/913919.html /
CONTACT:
Peter Murphy, +1-860-728-7977, or John Moran,
+1-860-728-7062, both of United Technologies Corp.
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