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Thursday, February 12, 2015

Bombardier names new CEO in management rejig, (NYSE: UTX)

Bombardier Inc Chairman Laurent Beaudoin is retiring after more than 50 years as part of a management shuffle that also brings in a new chief executive at a time when the company is struggling with delays in its CSeries jet program.The Canadian plane and train maker named Alain Bellemare, a former United Technologies Corp executive, as CEO and president.Bellemare will take over from Pierre Beaudoin, Laurent Beaudoin's son.Bombardier also reported a quarterly loss due to a $1.4 billion charge related to its decision to suspend its Learjet 85 program.

United Technologies Corporation (UTC) provides high technology products and services to the building systems and aerospace industries worldwide. Shares of UTX fell by 0.06% or $-0.07/share to $118.69. In the past year, the shares have traded as low as $97.30 and as high as $121.02. On average, 4265140 shares of UTX exchange hands on a given day and today's volume is recorded at 2707605.