Monday, October 20, 2008

UTC picks new presidents at Pratt & Whitney, Hamilton Sundstrand

By Mass High Tech Staff

With Stephen Finger set to retire as president of East Hartford, Conn.-based Pratt & Whitney on Jan. 1, 2009, the aerospace company’s parent, United Technologies Corp., has named David Hess, currently president of UTC unit Hamilton Sundstrand, as his replacement.

Stepping into Hess’ role at Hamilton Sundstrand will be Alain Bellemare, who is president of Pratt & Whitney Canada and executive vice president for Pratt & Whitney group strategy and development.

Hess, 53, has been in charge of Hamilton Sundstrand since 2005. He joined UTC (NYSE:UTX) in 1979 and has held executive positions at Hamilton Sundstrand since 1995. He holds both a bachelor’s and master’s degree in electrical engineering from Rensselaer Polytechnic Institute and a bachelor’s degree in physics from Hamilton College in New York. He also was awarded an MIT Sloan Fellowship in 1989 and received a master’s degree in management in 1990.

Bellemare, 47, was named president of Pratt & Whitney Canada in June 2002 and assumed his EVP responsibilities for Pratt & Whitney as a whole in March 2007. He first joined Pratt & Whitney Canada as vice president, manufacturing, in October of 1996. Bellemare received a bachelor’s degree in mechanical engineering from the University of Sherbrooke and an MBA from McGill University.

Last week UTC withdrew its proposal to acquire Diebold Inc. of Ohio, originally offered in February for $40 per share.

News of the retracted offer came to the Ohio electronics transaction systems maker via a letter to Diebold chairman John N. Lauer from UTC chairman George David. In the letter, David cites Diebold’s “extended refusals of UTC’s requests for management and due diligence.”

Across its six operating segments, Hartford, Conn.-based United Technologies employs more than 225,000 people worldwide. It reported $55 billion in revenue in 2007, with a net profit of $4.2 billion.