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In addition to the reporting by Connecticut Public Radio that appears below, Connecticut Public Television has produced two video series that focus on manufacturing in our state:Made in Connecticut profiles some of Connecticut's local manufacturing businesses, from high-tech to handmade.Making the Future introduces us to some Connecticut youth pursuing careers in manufacturing and the trades. This series was produced as part of the American Graduate: Getting to Work project with support form the Corporation for Public Broadcasting.

Mystery Surrounds UTC Change of Command

UTC
Financial analysts expressed surprise at the announcement. Generally, corporate leadership changes are flagged well in advance.

Investors and employees have been left baffled by the sudden resignation of Louis Chenevert, the chief executive of United Technologies. 

Chenevert, 57, had led the Hartford-based conglomerate for six years, and there had been no warning of a possible move on his part. But UTC abruptly announced Monday that he has been replaced, effective immediately, by chief financial officer Greg Hayes. Chenevert also stepped down as chairman of the board. That job will be filled by another board member, Edward Kangas.

Financial analysts expressed surprise at the announcement. Generally, corporate leadership changes are flagged well in advance, and Chenevert was thought to have been preparing to present to analysts at a meeting in mid-December.

Robert Stallard of RBC Capital Markets described the announcement as "out of the blue." But he doesn't view the change to Hayes as necessarily a negative, calling him highly competent. "Chenevert had traditionally projected a more optimistic outlook than Hayes," said Stallard, "and so a more restrained view on the outlook could be an immediate impact of this CEO change."

Chenevert’s watch was marked by a reshaping of UTC’s portfolio. He engineered the $18 billion acquisition of aerospace parts maker Goodrich. He also reorganized the company’s business segments, and he was at the helm for the announcement of a reinvestment in Connecticut, the planned building of a new $500 million headquarters for Pratt and Whitney, and other upgraded facilities.

Chenevert's tenure was also recently marred by embarrassments at the jet engine maker, where a high-profile engine fire grounded the F35 joint strike fighter program earlier this year.

A spokesman for UTC said the change in command has nothing to do with UTC’s financial performance.

Harriet Jones is Managing Editor for Connecticut Public Radio, overseeing the coverage of daily stories from our busy newsroom.

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SOMOS CONNECTICUT es una iniciativa de Connecticut Public, la emisora local de NPR y PBS del estado, que busca elevar nuestras historias latinas y expandir programación que alza y informa nuestras comunidades latinas locales. Visita CTPublic.org/latino para más reportajes y recursos. Para noticias, suscríbase a nuestro boletín informativo en ctpublic.org/newsletters.

The independent journalism and non-commercial programming you rely on every day is in danger.

If you’re reading this, you believe in trusted journalism and in learning without paywalls. You value access to educational content kids love and enriching cultural programming.

Now all of that is at risk.

Federal funding for public media is under threat and if it goes, the impact to our communities will be devastating.

Together, we can defend it. It’s time to protect what matters.

Your voice has protected public media before. Now, it’s needed again. Learn how you can protect the news and programming you depend on.

Connecticut Public’s journalism is made possible, in part by funding from Jeffrey Hoffman and Robert Jaeger.