UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d) of the
Securities Exchange Act of 1934
Date of Report (Date of earliest event reported): August 16, 2010
UNITED TECHNOLOGIES CORPORATION
(Exact name of registrant as specified in its charter)
| Delaware | 1-812 | 06-0570975 | ||
| (State or other jurisdiction of incorporation) |
(Commission File Number) |
(I.R.S. Employer Identification No.) |
One Financial Plaza
Hartford, Connecticut 06103
(Address of principal executive offices, including zip code)
Registrant’s telephone number, including area code
(860) 728-7000
N/A
(Former name or former address, if changed since last report)
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:
| ¨ | Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425) |
| ¨ | Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12) |
| ¨ | Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b)) |
| ¨ | Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c)) |
Section 5—Corporate Governance and Management
| Item 5.02. | Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers. |
(b) On August 16, 2010 United Technologies Corporation (the “Company”) announced the resignation of Ari Bousbib, President, Commercial Companies and Executive Vice President, effective August 31, 2010. A copy of the Company’s press release announcing Mr. Bousbib’s departure is attached as Exhibit 99.1 to this Form 8-K and incorporated herein by reference.
(e) Mr. Bousbib has entered into a consulting agreement with the Company under which he has agreed to remain available as an advisor to the Company following the termination of his employment through September 30, 2011. In this capacity he will provide advice and assistance with respect to the Company’s commercial businesses concerning recently formed joint ventures and business combinations, business development opportunities and customer relationships. The consulting agreement provides for a fixed retainer fee of $325,000, and the reimbursement of expenses.
Section 9—Financial Statements and Exhibits
| Item 9.01. | Financial Statements and Exhibits. |
(d) Exhibits.
| Exhibit |
Exhibit Description | |
| 99.1 | Press Release dated August 16, 2010, issued by United Technologies Corporation. | |
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
| UNITED TECHNOLOGIES CORPORATION (Registrant) | ||||
| Date: August 19, 2010 |
By: | /s/ KATHLEEN M. HOPKO | ||
| Kathleen M. Hopko | ||||
| Vice President, Secretary and Associate General Counsel | ||||
EXHIBIT INDEX
| Exhibit |
Exhibit Description | |
| 99.1 | Press Release dated August 16, 2010, issued by United Technologies Corporation. | |
EXHIBIT 99.1
Ari Bousbib, President, UTC Commercial Companies to Depart UTC
HARTFORD, Conn., Aug. 16, 2010 — United Technologies Corp. (NYSE:UTX) today announced Ari Bousbib, UTC Executive Vice President and president of its commercial companies, will leave the corporation effective Sept. 1 to accept a position as Chief Executive Officer for IMS Health.
Louis Chênevert, UTC Chairman and Chief Executive Officer, said: “Ari is an exceptional leader and has had a remarkable 14-year career at UTC. Most recently, he led the transformation of UTC’s commercial business portfolio to reduce complexity, lower costs and increase margins.
“Throughout his career, Ari has demonstrated outstanding strategic vision and operational expertise as well as superb teamwork and the highest integrity. I greatly appreciate Ari’s support during UTC’s successful leadership transition over the last five years, and wish him well in his new responsibilities,” Chênevert added.
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 2000, became Otis president in 2002, and was named UTC executive vice president and president, commercial companies, in 2008.
“UTC has been a big part of my life for 14 years,” Bousbib said. “It is a great company of strong businesses and terrific, talented people. While I will miss them, I know the hard work of the last few years has placed Otis, Carrier and UTC Fire & Security on a solid path to continued strong, best-in-class performance in the years ahead.”
To facilitate a smooth transition of responsibilities, Bousbib has agreed to remain available to consult with the corporation through September 2011.
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
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