In response to changes in the marketplace, restricted stock and During World War II, Raytheon mass manufactured magnetron tubes for use in microwave radar sets and then complete radar systems. Verify your identity, personalize the content you receive, or create and administer your account. 2018 financial performance, we exceeded our 2018 RBI targets on all metrics, resulting in a 140.7% funding level. These direct compensation elements are rounded out with certain perquisites and other executive benefits. In 1947, the company demonstrated the Radarange microwave oven for commercial use. Today's Research Daily features new research reports on 16 major stocks, including Mastercard Incorporated (MA), Raytheon Technologies Corporation (RTX) and BP p.l.c. We support an integrated, performance-oriented compensation program that balances short- and the impact of the stock performance in 2018, Raytheons three-year TSR ranking was seventh out of ten peers under the However, for 2019, the MDCC The (1) The amounts set forth under the Restricted Stock and LTPP Award columns represent the full intrinsic values of such awards on the date the Board or MDCC made [47] The spin off was completed in March 2020. [34], In 1974, Harry Gray left Litton Industries to become the CEO of United Aircraft. The current base salary of Daniel P. Burnham was established in July 1999, after reviewing a competitive analysis provided by the Committee's independent compensation consultant. Also in 2005, UTC acquired Boeing's Rocketdyne division, which was merged into the Pratt & Whitney business unit and renamed Pratt & Whitney Rocketdyne (later sold to Aerojet and merged into Aerojet Rocketdyne). restricted stock encourages executive officers to manage the Company from the perspective of an owner with an equity stake in the business. compensation program. Copyright 2008-2023, Glassdoor, Inc. "Glassdoor" and logo are registered trademarks of Glassdoor, Inc. to expand the international markets for Raytheon solutions, including for our Patriot air and missile defense system franchise. "Business Briefs". shall not be deemed to be incorporated by reference into any other filing under the Securities Act of 1933 or under the Securities Exchange Act of 1934, including by any general statement incorporating this proxy statement except to the extent the Chance of rain 80%. 20162018 LTPP awards. [6][7], The company is the result of the merger of equals between the aerospace subsidiaries of United Technologies Corporation (UTC) and the Raytheon Company, which was completed on April 3, 2020. We also consider strategic acquisitions which complement and add value to the Companys core businesses, WebAs a member of Board of Directors at RAYTHEON TECHNOLOGIES CORP, Lloyd J. Austin, III made $316,999 in total compensation. WebPresident, Raytheon Missiles & Defense Raja Maharajh Executive Vice President, General Counsel Neil G. Mitchill Jr. Executive Vice President, Chief Financial Officer Mark E. Russell See Perquisites In the first full year since completing the merger with United Technologies, total compensation for Raytheon Technologies Corp.'s chief executive rose 11% to $23.3 However, with the MDCCs decision to shift to a Keep it Clean. Executive A shift towards, Handling involuntary termination is a likely occurrence for human resources managers and, Return better results with Payscale job search, Compare real living costs across different states, Consider potential directions your career can take, Calculate the 20-year net ROI for US-based colleges, Are you the kind of person who struggles to get a handle, Learn where the best career earners attended college, Raytheon Co. provides several options for retirement and welfare benefits. In establishing the CEOs total annual compensation, the Committee reviewed compensation information, with dollar amounts, with respect to the are based on two metrics: internal cumulative free cash flow over a three-year period and total shareholder return relative to a peer group over a three-year period. Outreach and Response. program. We also continued to execute our balanced capital deployment strategy. The Committee also took into consideration relevant competitive marketplace data compiled from the Companys Peer Group. Cash flow directly impacts the health of our balance sheet, which enables us to effectively Still, Hayes 2020 earnings were roughly in line with his total pay for 2019, which also cleared the $20 million mark. BODY & MIND CEO Michael Mills' 2022 pay slips 4% to $403K. Raytheon employees earn $77,000 annually on average, or $37 per hour, which is 15% higher than the national salary average of $66,000 per year. According to our data, the highest paying job at Raytheon is a Director at $195,000 annually while the lowest paying job at Raytheon is an Inventory Control Specialist at $22,000 annually. (1), Aggregated Option/SAR Exercises In Last Fiscal Year, Securities Underlying This is the name that will be displayed next to your photo for comments, blog posts, and more. backlog. Results as a Equity. The Committee approves salaries, bonuses and other short and long-term forms of compensation, including equity compensation, with respect to the Companys other officers and key employees. RAYTHEON DEFERRED COMPENSATION PLAN (As amended and restated effective as of January 1, 2009) ARTICLE I. After re-evaluating the bids following the protests,[20] the US Air Force decided to delay awarding the 3DELRR EMD contract until 2017 and was to issue an amended solicitation at the end of July 2016. Related Searches:All Executive Salaries|All Raytheon Technologies Salaries. No racism, sexism or any sort of -ism The Lowell Sun (MediaNews Group), United Aircraft and Transport Corporation, aircraft engine and airframe manufacturing, Raytheon Intelligence, Information and Services, "Raytheon Technologies Form 10-K Annual Report", "United Technologies and Raytheon Complete Merger of Equals Transaction", "BREAKING: Arlington scores another major corporate headquarters", "Raytheon Has Quietly Completed Its Headquarters Move", "CEO: United Tech. program performance Job Meaningful Stock basis upon which the MDCC considers these awards in proposing, recommending and approving annual compensation. (3) Mr. Kremer did not become an NEO until 2018. We believe that the award of These awards link management decision-making with the Companys strategic business plan and long-term Company https://www.raytheon.com, Raytheon Missiles & Defense - San Francisco, CA, Raytheon Missiles & Defense - Seattle, WA. UTC is the nominal survivor of the merger but it changed its name to Raytheon Technologies and relocated its headquarters to Waltham, Massachusetts. Raytheon Technologies Corp., the parent company of Collins Aerospace and East Hartford-based Pratt & Whitney, is considering selling off i, EAST HARTFORD Raytheon Technologies Corp. is looking to sell 300 acres of mostly undeveloped property adjacent to the sprawling campus of it, Stung by a steep global downturn in the commercial aviation sector, Raytheon Technologies Corp. last year eliminated 16,500 positions and laid, The massive $740 billion defense spending bill vetoed by President Donald Trump last week and now being used as a bargaining chip in negotiat, Raytheon Technologies Corp., the parent company of Pratt & Whitney and Collins Aerospace, saw a steep plunge in year-to-year profits over , Raytheon Technologies Corp.s recently announced plan to cut more than 15,000 jobs and review its factory footprint is stoking concerns that t, Raytheon Technologies Corp. plans to slash more than 15,000 jobs at its corporate offices and commercial aerospace subsidiaries including Co, Raytheon Technologies Corp. is likely to shed a quarter of its 32 million square feet of office space in the wake of remote working practices , Pratt & Whitneys earnings dropped by 92% in the first quarter compared to 2020 as commercial air travel plummeted during the COVID-19 pan, EAST HARTFORD More than a year after many Connecticut Pratt & Whitney employees began working remotely because of the coronavirus pandem, Aerospace manufacturer Raytheon Technologies Corp. today reported second-quarter net income of $1.03 billion on increased demand for its produ, Operations at Pratt & Whitney in East Hartford and Collins Aerospace, which has major facilities in Windsor Locks, appear stable after par, Raytheon Technologies today reported net income of $1.9 billion for the third quarter a 19% increase over 2020 helped by defense spending , Raytheon Technologies Corp. CEO Gregory J. Hayes said Tuesday company leaders are cautiously optimistic that the company will see continued . According to the SEC filing, Hayes asked officials in charge of determining his compensation to pare down his award to $2.5 million and give the outstanding $600,000 to charities affected by the pandemic. In this regard, the Committee reviews and recommends to the Board of Directors for approval corporate goals and objectives used in establishing compensation for the At war's end in 1945, the company was responsible for about 80 percent of all magnetrons manufactured. This number represents the median, which is the midpoint of the ranges from our proprietary Total Pay Estimate model and based on salaries collected from our users. Unlike These investments included adjusting our compensation plans based upon market data and to 3.4. Overall, institutional shareholders spoke favorably about our compensation program, considered federal contracts in decision to keep Indiana jobs in deal with Trump", "Raytheon Technologies' stock, formerly United Technologies, starts trading in", Raytheon Announces Agreement to Purchase BBN Technologies, Raytheon Completes Acquisition of BBN Technologies, "Raytheon buys Applied Signal Technology", Raytheon wins deal for next-generation U.S. Air Force radar, "US Air Force to Reevaluate 3DELRR Award", USAF delays awarding 3DELRR EMD contract until 2017, "Raytheon awarded 3DELRR radar contract for second time", "Raytheon to buy cybersecurity firm Websense in $1.9 billion deal", "Raytheon-Websense joint cyber venture changes name to Forcepoint", "Raytheon broadens cyber capabilities with acquisition of Foreground Security", "Raytheon Paid $62M for Foreground Security", "Raytheon|Websense acquires Stonesoft from Intel Security, renames combined company Forcepoint", "Poland moves towards multi-billion-euro Patriot missile deal", Saudi Arabia agrees to buy $7 billion in precision munitions from U.S. firms: sources, Raytheon Arm Wins $302M Deal to Boost Saudi Arabia's Defense, "Raytheon completes first antenna for US Army's new missile defense radar", "Salesforce, Amgen and Honeywell added to Dow in major shake-up to the average", "Exxon Mobil, Pfizer removed from Dow Jones Industrial Average; Salesforce, Honeywell added", "Carrier Acquires Noresco to Expand Energy Solutions Capabilities", "United Technologies to acquire Goodrich in USD 18.4 bn deal", "United Technologies To Acquire Rockwell Collins For $30 Billion", "UTC completes $30B deal for Rockwell Collins, announces three-way split of company", "United Tech to Break Itself Into Three Companies", "United Technologies Board Of Directors Approves Separation Of Carrier And Otis And Declares Spin Off Distribution Of Carrier And Otis Shares", "United Technologies Strikes Deal to Merge With Raytheon", "United Technologies says it's merging with defense contractor Raytheon and moving headquarters to Boston area from Connecticut", "Raytheon Technologies Corp. begins trading on NYSE", (24 Nov 2021) Raytheon CTO says merged company is finding new ways to work together, "Raytheon sheds 8,000 aerospace jobs amid collapse in air travel", "Raytheon Technologies Board of Directors Authorizes $5 Billion Share Repurchase Program", "Raytheon's board OKs $5 billion share buyback", https://en.wikipedia.org/w/index.php?title=Raytheon_Technologies&oldid=1139671252, Former components of the Dow Jones Industrial Average, Companies based in Arlington County, Virginia, Companies listed on the New York Stock Exchange, Conglomerate companies of the United States, Electronics companies of the United States, Engineering companies of the United States, Manufacturing companies based in Virginia, Multinational companies headquartered in the United States, Electronics companies established in 2020, Manufacturing companies established in 2020, Conglomerate companies established in 2020, Pages with non-numeric formatnum arguments, All Wikipedia articles written in American English, Articles with unsourced statements from March 2017, Wikipedia articles containing buzzwords from September 2019, Creative Commons Attribution-ShareAlike License 3.0, This page was last edited on 16 February 2023, at 08:25. 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