Greg Hayes and Tom Kennedy became closely associated with one of the biggest changes in the American aerospace and defense industry when United Technologies Corporation and Raytheon joined forces in 2020. Although they came from different professional backgrounds, both executives helped bring two established companies under one corporate organization.
Hayes built his reputation through financial leadership, business restructuring, and corporate management at United Technologies. Kennedy, meanwhile, spent nearly four decades at Raytheon, developing his expertise in engineering, defense technology, and executive operations. Their experience complemented each other during the creation of Raytheon Technologies, the company now known as RTX Corporation.
Their connection is particularly interesting because it involved more than two executives agreeing to a business transaction. It represented the combination of different corporate cultures, technical capabilities, and long-term commercial priorities. Looking at their individual careers helps explain why the merger happened, how its leadership was organized, and what each man contributed to the resulting company.
Two Different Professional Backgrounds, One Corporate Decision
Greg Hayes and Tom Kennedy did not follow identical career paths. One developed extensive experience in accounting, finance, and corporate strategy, while the other built his reputation through engineering and defense systems.
Their professional differences became important when their companies began discussing a possible combination.
Hayes was leading United Technologies, an organization with major aerospace operations. Kennedy was responsible for Raytheon, a company with established capabilities in military electronics, missile defense, radar, and other advanced technologies.
Both executives had spent years managing complex businesses, but their areas of expertise reflected different sides of the aerospace and defense industry.
This distinction helps explain their respective responsibilities after the merger. Hayes was selected to lead the combined company’s daily operations, while Kennedy initially took the position of executive chairman.
The Career Decisions That Prepared Greg Hayes for Leadership
Gregory J. Hayes developed his career primarily through financial management and senior corporate responsibilities.
He earned a bachelor’s degree in economics from Purdue University and became a Certified Public Accountant. These qualifications provided a foundation for his work in accounting, financial planning, and business management.
Hayes joined United Technologies in 1999 through the company’s merger with Sundstrand Corporation. Over the following years, he moved through several senior positions and developed an understanding of the company’s financial structure and business operations.
One particularly important appointment came in 2008, when he became chief financial officer. He held that position until 2014, when he was appointed chief executive officer.
As CEO, Hayes pursued significant changes to United Technologies’ business portfolio. The company sold Sikorsky Aircraft in 2015 and acquired Rockwell Collins in 2018. These decisions reflected a broader effort to reshape the organization around aerospace-related operations.
Another major part of this transformation involved the separation of Otis and Carrier in 2020. These businesses became independent publicly traded companies, allowing the remaining aerospace operations to move forward with the planned Raytheon combination.
His contribution to the merger was therefore connected to a wider corporate strategy rather than a single announcement.
What Made Tom Kennedy an Important Figure at Raytheon?
Thomas A. Kennedy followed a more technically focused route into corporate leadership.
Before entering the business world, he served as a captain in the United States Air Force. His military experience included responsibilities involving satellite launch vehicle avionics development and production.
Kennedy studied electrical engineering at Rutgers University and the Air Force Institute of Technology. He later completed a doctorate in engineering at the University of California, Los Angeles.
He joined Raytheon in 1983, initially working in engineering on radar development. His responsibilities expanded over time, taking him into management positions involving advanced defense technologies and major company operations.
His experience included leadership in areas such as Integrated Defense Systems, Space and Airborne Systems, and other technical business divisions.
Kennedy eventually became Raytheon’s chief operating officer before being appointed CEO in March 2014. He also became chairman later that year.
His time at the company gave him extensive knowledge of its engineering capabilities, government customers, international operations, and defense technology programs.
This background made him an important participant in the discussions that eventually brought Raytheon together with United Technologies.
The Business Logic Behind Bringing Their Companies Together
The proposed combination was not simply about making two large organizations bigger. The companies operated in related industries but offered different products and capabilities.
United Technologies had significant aerospace operations, particularly through Pratt & Whitney and Collins Aerospace. Raytheon had a strong position in defense technologies, including radar, missile systems, sensors, and military electronics.
Combining these businesses offered an opportunity to connect their engineering resources and serve a broader range of customers.
The companies also expected the larger organization to support research, technological development, and investment across commercial aviation and defense markets.
However, the transaction involved substantial challenges. Integrating two major corporations required coordination across employees, manufacturing facilities, management teams, supply chains, and financial systems.
The merger’s success would depend on how effectively the combined organization could manage these responsibilities, not simply on the size of its operations.
April 2020: A New Chapter for Both Executives
United Technologies and Raytheon announced their planned combination in June 2019. The transaction was structured as an all-stock merger and officially closed on April 3, 2020.
The resulting organization initially operated under the name Raytheon Technologies Corporation.
The leadership arrangement reflected the experience of both executives:
- Greg Hayes became president and chief executive officer of the combined company.
- Tom Kennedy became executive chairman of its board.
- Both executives participated in the initial leadership and integration period.
This arrangement allowed Hayes to oversee the company’s operations while Kennedy provided leadership at the board level.
The transition also followed a planned succession structure. Kennedy was initially expected to remain executive chairman for approximately two years after the merger. However, the integration process and leadership transition progressed ahead of schedule.
In April 2021, the company announced that Kennedy would retire effective June 1, 2021. Hayes would then take over the chairman position while continuing as CEO.
Kennedy described the integration as successfully underway and acknowledged his working relationship with Hayes during the transition.
How Their Contributions Shaped the Identity of RTX
The merger established a business with a broader presence across commercial aerospace and defense markets.
Its operations brought together three particularly important areas:
Commercial aerospace: Collins Aerospace provides systems and equipment used across commercial and military aviation. Its work includes avionics, aircraft interiors, communications, and other aerospace technologies.
Aircraft propulsion: Pratt & Whitney develops and manufactures aircraft engines and related propulsion technologies. Its products support commercial, military, and business aviation.
Defense technology: Raytheon focuses on advanced defense systems, including air and missile defense, sensors, radar, and other military technologies.
The combination created opportunities for the company to coordinate expertise across these areas.
Hayes contributed experience in corporate restructuring, financial decisions, and organizational management. Kennedy brought a long record of engineering leadership and experience managing complex defense operations.
Their contributions were different, but both were relevant to the company’s formation.
The organization later adopted the name RTX Corporation, reflecting its development beyond the original Raytheon Technologies identity.
What Happened to Their Leadership Careers After the Merger?
The two executives left their RTX leadership positions at different stages.
Tom Kennedy’s departure came first. After retiring as executive chairman on June 1, 2021, he concluded his approximately 38-year career at Raytheon. In December 2022, Textron announced his election to its board of directors, effective January 2023.
Greg Hayes remained involved with RTX for several additional years.
He served as CEO until May 2, 2024, when Christopher Calio succeeded him. Hayes then continued as executive chairman.
In February 2025, RTX announced that Hayes would leave the chairmanship and board effective April 30, 2025. The company also arranged for him to serve as a special advisor to its CEO through January 2, 2026.
His later corporate roles included serving on the boards of Phillips 66 and Becton, Dickinson and Company.
These developments show that the merger was only one stage in two much longer executive careers. Kennedy’s retirement marked the end of his Raytheon leadership journey, while Hayes moved into other corporate governance responsibilities after leaving RTX.
Understanding the Difference Between Their Business Legacies
It is easy to discuss Greg Hayes and Tom Kennedy together because their names are connected to the same corporate transaction. However, evaluating their professional contributions separately provides a clearer picture.
Hayes is particularly associated with reshaping United Technologies before the merger. His work involved decisions about acquisitions, divestitures, financial priorities, and the company’s long-term business direction.
Kennedy’s contribution was more closely tied to Raytheon’s development as a technology-focused defense organization. His experience covered engineering, military applications, business operations, and international customers.
Their responsibilities also demonstrate why large industrial mergers require different types of leadership. Financial planning and corporate strategy are essential, but so are engineering knowledge, technical investment, and operational experience.
Neither executive’s career can be reduced to the merger alone. Both had established professional records before their companies entered negotiations.
Frequently Asked Questions
1. Who are Greg Hayes and Tom Kennedy?
Greg Hayes is a former chief executive of United Technologies and RTX Corporation. Tom Kennedy is a former Raytheon chairman and CEO who became executive chairman following the 2020 merger. Both played important roles in establishing Raytheon Technologies.
2. Are Greg Hayes and Tom Kennedy related?
There is no reliable public evidence establishing a family relationship between the two executives. Their documented connection is professional and comes from their leadership positions at United Technologies and Raytheon.
3. Why are Greg Hayes and Tom Kennedy associated with RTX?
They led the two companies involved in the 2020 merger. Hayes became CEO of the combined organization, while Kennedy initially served as executive chairman.
4. What was Tom Kennedy’s position before joining RTX?
Kennedy was chairman and chief executive officer of Raytheon Company from 2014 until the 2020 merger. Before that, he held several engineering, operational, and executive positions within Raytheon.
5. What did Greg Hayes do before becoming CEO of RTX?
Hayes spent nearly 21 years at United Technologies. He served as its CFO from 2008 to 2014 before becoming CEO in November 2014 and chairman in 2016.
6. When did Tom Kennedy retire?
Tom Kennedy retired as executive chairman of Raytheon Technologies effective June 1, 2021. His retirement followed the first anniversary of the merger.
7. When did Greg Hayes leave RTX?
Hayes left RTX’s board and executive chairman position effective April 30, 2025. His special advisor arrangement continued through January 2, 2026.
8. What is the relationship between Raytheon Technologies and RTX Corporation?
Raytheon Technologies was the name initially used by the company formed through the 2020 merger. The organization subsequently changed its name to RTX Corporation.
9. Did Greg Hayes and Tom Kennedy have the same educational background?
No. Hayes earned an economics degree from Purdue University and became a Certified Public Accountant. Kennedy studied electrical engineering at Rutgers University and the Air Force Institute of Technology before completing a doctorate at UCLA.
10. Who became CEO after Greg Hayes?
Christopher T. Calio succeeded Greg Hayes as CEO of RTX on May 2, 2024. Calio had previously served as president and chief operating officer of the company.
Conclusion
Greg Hayes and Tom Kennedy represent two different but complementary forms of executive leadership in the aerospace and defense industry. Hayes brought financial experience and a record of corporate transformation from United Technologies, while Kennedy contributed decades of engineering, defense technology, and management experience at Raytheon.
Their careers intersected during the 2020 merger, which created Raytheon Technologies and established the foundation of today’s RTX Corporation. Although their leadership responsibilities ended at different times, their roles in bringing the two businesses together remain an important part of the company’s history.
Understanding their professional journeys provides more than a simple account of two former CEOs. It explains how different areas of expertise, long-term business decisions, and leadership transitions can shape the direction of a major international corporation.
Research sources
The factual foundation was checked against corporate and institutional records:
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