Ahead of the upcoming $135 billion merger with Raytheon Co., Neil Mitchill, CFO of United Technologies Corp’s Pratt & Whitney aerospace subsidiary, will assume acting CFO duties, the company said in an earnings call Tuesday. Mitchill will head UTC’s finance department until the Raytheon merger is complete.
The interim position is being viewed by analysts as an “audition for an executive role at the combined company,” WSJ reported.
Though a post-merger CFO has been named, Mitchill’s appointment as interim CFO suggests he will remain an executive in the new company.
On the call with analysts, UTC CEO Greg Hayes said Mitchill, a former PricewaterhouseCoopers senior partner, will be replacing Akhil Johri, who will be retiring after 31 years with the company.
Raytheon Technologies, which is set to be combined with UTC by next year, said it will be headed by current Raytheon CFO Anthony F. O’Brien. It is likely that Mitchill will report to O’Brien once the two companies merge.
Representatives for Mr. Mitchill did not respond to requests for comment before publication.
Naming a new executive as interim before assuming full duties is becoming more common. Earlier this month, WSJ reported CSX Corp. appointed its interim CFO, Kevin Boone, to permanent status.
Both firms expect that the merger will be completed by early next year, GovConWire reported.