Aerospace Giant RTX Picks Christopher Calio To Succeed Gregory Hayes As CEO In May 2024
Portfolio Pulse from Nabaparna Bhattacharya
Christopher T. Calio has been appointed as the next CEO of RTX Corporation (NYSE:RTX), effective May 2, 2024, succeeding Gregory J. Hayes. Calio, currently President and COO, will also join the board of directors on December 14, 2023. Hayes will continue as executive chairman. RTX has recently collaborated with EasyJet (OTC:ESYJY) and Airbus SE (OTC:EADSY), and formed a joint venture with Rafael Advanced Defense Systems for missile production. RTX shares saw a slight increase in premarket trading.
December 15, 2023 | 11:50 am
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NEUTRAL IMPACT
RTX's Collins Aerospace has partnered with EasyJet to implement GlobalConnectSM connected aircraft services on over 330 Airbus aircraft, indicating a strong business relationship with Airbus SE.
While the collaboration with RTX's Collins Aerospace is positive, it is a routine business development and may not have a significant short-term impact on Airbus SE's stock price.
CONFIDENCE 80
IMPORTANCE 50
RELEVANCE 50
NEUTRAL IMPACT
EasyJet's collaboration with RTX's Collins Aerospace for connected aircraft services on its Airbus fleet reflects a strengthening of business ties, which could be beneficial for EasyJet.
The deal with RTX's Collins Aerospace is a positive development for EasyJet, but as an operational upgrade, it may not have a substantial short-term impact on the stock price.
CONFIDENCE 80
IMPORTANCE 50
RELEVANCE 50
POSITIVE IMPACT
Christopher T. Calio is set to become RTX's CEO in May 2024, with current CEO Gregory J. Hayes becoming executive chairman. RTX is involved in new collaborations and a joint venture, which may influence investor confidence.
The appointment of a new CEO often leads to optimism about potential strategic changes and growth, which can positively impact the stock price. The recent collaborations and joint venture indicate a proactive business strategy, likely viewed favorably by investors.
CONFIDENCE 90
IMPORTANCE 75
RELEVANCE 100