Fairfield County Business Journal: 061719

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JUNE 17, 2019 VOL. 55, No. 24

westfaironline.com

Dassault Aviation’s Falcon 6X business jet, for which United Technologies Corp.’s Aerospace division designed the power system.

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HELLO HOLLYWOOD

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BAD CREDIT

A black eye for Lamont? FASANO COMPARES UNITED TECHNOLOGIES-RAYTHEON MERGER TO GE LEAVING FAIRFIELD FOR BOSTON BY KEVIN ZIMMERMAN kzimmerman@westfairinc.com

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he June 9 surprise announcement that United Technologies Corp. plans to merge with Raytheon Co. left officials scrambling to determine what it all means. While the newly merged company, to be called Raytheon Technologies Corp., will be headquartered in what the firms called

“the greater Boston area” — Raytheon is in Waltham — instead of UTC’s Farmington home, “It’s important to note that nearly all of UTC’s 19,000 employees will remain in Connecticut, with roughly 100 moving to the new headquarters,” said Gov. Ned Lamont. Under terms of what the firms call “an all-stock merger of equals,” subject to various approvals, UTC shareholders will own about 57 percent of the new com-

pany and shareholders of Raytheon will own 43 percent. UTC will maintain eight of the 15 board seats, with the remainder held by Raytheon. The combined company will have approximately $74 billion in pro forma 2019 sales. The combination excludes Otis and Carrier, which are expected to be separated from United Technologies in the first half of 2020 as previously announced. Raytheon plans to consolidate its four businesses into two businesses to be named Intelligence, Space & Airborne Systems and Integrated Defense & Missile Systems. Those new businesses will join Collins Aerospace » » LAMONT

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40 UNDER FORTY CEREMONY CELEBRATES FAIRFIELD COUNTY’S BRIGHTEST YOUNG TALENT BY PHIL HALL phall@westfairinc.com

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orwalk’s LaKota Oaks hosted an array of bright young talent from the corporate, nonprofit, government, education and medical worlds on June 11 with the presentation of the Fairfield County Business Journal’s 15th annual 40 Under Forty awards. Matt Scott, meteorologist and morning show co-host at Fox 61 News, returned as the event’s emcee for his fourth year and started the evening by joking that he was initially

concerned about whether he could make it to the event. “Fortunately, my schedule has freed up since I am no longer taking the SATs for underprivileged kids in Fairfield County — I’m going to miss those side hustles,” he quipped, drawing both gasps and laughs. The keynote speaker for the event was Scott Johnson, president of the Mack Media Group in Brookfield and host of “The Mack Talks” weekly podcast. Johnson used his speech to highlight his career trajectory as a serial entrepreneur, starting in screen printing and embroidery design before » » FORTY

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