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United Technologies CEO Sets Tone With Plan for Sikorsky Spinoff

United Technologies Corp.’s Sikorsky Aircraft unit makes Black Hawk helicopters.
Chris Ratcliffe/Bloomberg

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By Richard Clough

March 11, 2015 at 11:13 PM UTC

Updated on

March 12, 2015 at 2:05 PM UTC

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Four months after taking over as chief executive officer, Gregory Hayes is putting his stamp on United Technologies Corp. with plans to unload the 90-year-old Sikorsky helicopter business via a sale or spinoff.

The Sikorsky decision “shouts action and change,” Nigel Coe, a Morgan Stanley analyst in New York, said in a note on Thursday. “Sikorsky, as an assembler of original equipment airframes, does not fit into UTX’s core competency as a systems supplier.”