Who is the ceo of carrier

United Technologies (UTC) has appointed David L Gitlin as President and CEO of its Carrier air conditioning and refrigeration business in advance of its planned spin-off next year.

Described as a UTC veteran, Gitlin moves from the group’s aerospace business where he was most recently President and COO of Collins Aerospace. He was previously President of UTC Aerospace Systems after leading the integration of Goodrich Corporation with UTC. UTC announced late last year its intention to separate into three independent companies by spinning off its Carrier and Otis elevator businesses. A new president and CEO, Judith F Marks, has also been appointed for its Otis elevator business.

“I’m pleased to announce these most important assignments as we make strong progress toward our goal of establishing both Carrier and Otis as stand-alone public companies and clear leaders in their respective industries,” commented UTC Chairman and CEO Greg Hayes.

“As we prepare to become an independent public company, we will be working tirelessly to ensure that we provide best-in-class performance for our customers, employees and shareholders,” added Dave Gitlin. The spin-off of the Otis and Carrier businesses is not affected by today’s announcement that UTC is to merge with aerospace company Raytheon. The timing of the separation of Otis and Carrier is said to be on track for completion in the first half of 2020.

• "We feel like we have a very good handle on our inflationary issues," CEO David Gitlin said in an interview on "Mad Money."
• Gitlin said that further bolstering the corporation's financial position is its net debt, which stands at less than $4 billion in net debt compared to $10 billion when it spun off from former parent company United Technologies in 2020.

Carrier Global CEO David Gitlin told CNBC on Tuesday that the heating and refrigeration giant has a grasp on inflation that will allow it to pursue growth more aggressively.

"We feel like we have a very good handle on our inflationary issues. We're 70% blocked on some of the things that we care about, like steel, aluminum, copper," Gitlin said in an interview on "Mad Money."

Part of the firm's strategy includes raising prices, the executive said, but there's also a focus on its own operations.

"We're driving cost out of the system, and the key to drive long-term shareholder value is growth," he later added, listing factors including increased automation hours and dual-sourcing as ways Carrier has offset inflationary pressures.

Gitlin's appearance came after Carrier held an investor day event, which the market appeared to take positively. Shares of the Florida-based company rose 2.75% Tuesday in what was a down day for all three major U.S. stock indexes.

The market is currently experiencing intense volatility as Wall Street worries about the impacts of Russian aggression toward Ukraine. In addition, an anticipated interest rate hike in March by the Federal Reserve to control skyrocketing inflation is keeping investors on edge.

In general, Gitlin expressed confidence about Carrier's financial position, including its debt load. He said its net debt now stands at less than $4 billion, down from around $10 billion when it spun off from former parent company United Technologies in 2020.

Carrier's announced acquisition of Toshiba's heating, ventilation and air conditioning segment should close soon, Gitlin said, adding that additional M&A activity could be on the horizon. The company also continues to return capital to shareholders through its dividend and buyback program, he added.

"We have an ability to now use our cash position to play offense, which is exciting," Gitlin said. 

Dave Gitlin, Carrier chairman and CEO joins 'Squawk on the Street' to discuss what the company will do to tackle supply chain issues. Some solutions will be raising prices aggressively and setting up a more resilient supply chain for the future.

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Thu, Oct 28 202110:33 AM EDT

David Gitlin is Chairman & Chief Executive Officer of Carrier. He previously served as President & CEO and was elected Chairman of the Board in April 2021. Before joining Carrier, he was President and Chief Operating Officer of Collins Aerospace, which was created by bringing together UTC Aerospace Systems and Rockwell Collins. Prior to Collins Aerospace, he was President of UTC Aerospace Systems, which was created by bringing together Goodrich Corporation and Hamilton Sundstrand. 

Prior to UTC Aerospace Systems, Dave worked for Hamilton Sundstrand as President of Aerospace Customers & Business Development; President of Auxiliary Power, Engine & Control Systems; Vice President and General Manager of Hamilton Sundstrand Power Systems; Vice President of Pratt & Whitney programs; and General Manager of Rolls-Royce/General Electric programs. Dave also served in roles at the corporate office of United Technologies Corporation and Pratt & Whitney. 

Dave earned a bachelor’s degree from Cornell University, a Juris Doctor from the University of Connecticut School of Law, and an MBA from MIT’s Sloan School of Management. He serves on the Board of Directors for The Boeing Company. Dave and his wife Stephanie have three children.

Connect with Dave on LinkedIn