RTX Corporation announced that Gregory J. Hayes, the company's Executive Chairman, will step down from his role and the Board of Directors, effective April 30, 2025. Hayes will remain an employee in a non-executive role as Special Advisor to the CEO until January 2, 2026. The Board has elected Christopher T. Calio, the current President and CEO, to also serve as Chairman, effective April 30, 2025.

As Special Advisor, Hayes will continue to receive his $1.1 million annual base salary but will not be eligible for an annual incentive for 2025 or any additional equity or long-term incentive awards. He will, however, continue vesting in his existing long-term incentive awards under current terms. His participation in retirement, health, disability, and life insurance benefit programs will remain unchanged, and he will be eligible for an annual executive physical and financial planning services.

Hayes will no longer have access to Executive Chair-specific perquisites, including personal use of the corporate aircraft, home security services, and a company-provided car and driver, effective April 30, 2025.