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Raytheon Technologies Appoints Michael R. Dumais as Chief Transformation Officer

Raytheon Technologies (NYSE: RTX) has named Michael Dumais chief transformation officer to drive high-impact business transformation initiatives over the next 12 months. Dumais has served the company in a range of executive positions since joining predecessor company United Technologies Corporation in 1998.

In this role, Dumais will continue reporting directly to Chief Executive Officer Gregory Hayes and maintains responsibility for the company's corporate strategy and development function.

As chief transformation officer, Dumais will be responsible for accelerating Raytheon's strategic transformation initiatives, focusing company-wide technologies on key market opportunities, digitally enabling key business processes and reducing cost.

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"Nine months into the post-merger integration, and in light of the downturn and continued uncertainty in commercial aerospace, we see clear opportunities to further harness efficiencies and reduce redundancies across our operations to meet the challenges and capture the opportunities in front of us," said Hayes. "In this new role, Mike will lead company-wide initiatives to drive top-line growth and bottom-line cost reductions to deliver optimal value to stakeholders."

Dumais added, "With a focus on optimizing commonality of processes and streamlining critical business drivers with digitization, I am excited by this opportunity to help the company fully leverage its depth, breadth and scale to enhance the value we can bring to all stakeholders."

Dumais has more than 20 years of experience in business strategy and execution and, prior to his current role, served as executive vice president of operations and strategy at United Technologies Corporation. Before that, Dumais served as senior vice president for strategic planning for UTC. He previously led the Power, Controls & Sensing Systems business segment at UTC Aerospace Systems and held numerous leadership positions at UTC's Hamilton Sundstrand division, including President. Prior to joining UTC, he held various strategic business roles with the consulting firm Bain & Company.

Dumais holds a bachelor's degree in electronics engineering from Virginia Tech, a master's degree in electronics engineering from the University of Pennsylvania and an MBA from the University of Pennsylvania's Wharton School of Business, where he was a Palmer Scholar.

Source: Raytheon Corporation (NYSE: RTN)
Date: Jan 19, 2021

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