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BREAKING NEWS

UTC technology chief Paul Eremenko steps down

UTC technology chief Paul Eremenko steps down
FILE PHOTO: United Technologies logo is displayed on a screen at the post where it's stock is traded on the floor of the New York Stock Exchange (NYSE) in New York, U.S., September 5, 2017. REUTERS/Brendan McDermid -
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BRENDAN MCDERMID(Reuters)
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(Reuters) – The chief technology officer of United Technologies Corp <UTX.N>, Paul Eremenko, has stepped down, just under two years after moving to the U.S. conglomerate from Europe’s Airbus <AIR.PA>.

The company confirmed the move in response to a query from Reuters after a person familiar with the matter said Eremenko was leaving UTC, the world’s largest aerospace supplier and owner of jet engine maker Pratt & Whitney.

“Paul Eremenko has informed us of his intention to pursue opportunities outside the company,” UTC spokeswoman Michele Quintaglie said by email.

Eremenko notified the company on Tuesday and his departure is effective immediately, she said.

He could not be reached immediately for comment.

As CTO, Eremenko led UTC’s technology and engineering business, Quintaglie said. Nicolas Pujet, part of UTC’s strategy team, will be interim leader of technology and engineering as UTC prepares for a merger with defence giant Raytheon <RTN.N>, expected to close next year.

Former Google executive Eremenko has taken a public role in efforts by aerospace groups to import radical thinking from Silicon Valley, as digital technology reshapes the industry.

At the Paris Airshow in June, Eremenko unveiled an initiative dubbed “Project 804” to build a hybrid-electric turboprop demonstrator aimed at saving 30% of fuel consumption.

Eremenko served as chief technology officer of Airbus between June 2016 and November 2017, when he quit to join UTC.

(Reporting by Alwyn Scott, additional reporting by Tim Hepher; Editing by Bernadette Baum)

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