United Technologies Board Hands Chairman Title to CEO Hayes

United Technologies Corp.’s board elected Chief Executive Officer Greg Hayes as chairman.

The 55-year-old executive succeeds Edward Kangas, who will serve as independent lead director, the Farmington, Connecticut-based company said Wednesday in a statement. Kangas previously served in that role from 2013 to 2014.

Hayes, CEO since November 2014, “has streamlined our business portfolio, optimized our organization and positioned the company for sustained long-term growth,” Kangas said in the statement. Hayes has been with United Technologies for 27 years, including six as chief financial officer.

The move is the latest change at United Technologies since Hayes assumed the top post. The maker of Pratt & Whitney jet engines and Carrier air conditioners has made management changes, including new heads of the elevator and climate divisions, and reshaped the portfolio through actions such as the sale of the Sikorsky helicopter unit.