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David retires as chairman of United Technologies

| 10/14/09 04:50 PM | AP

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HARTFORD, Conn. — George David says he will retire as chairman of the board of United Technologies Corp. at the end of the year, ending 34 years at the conglomerate.

CEO Louis Chenevert will succeed David as chairman of the company that makes Pratt & Whitney jet engines, Otis elevators, Sikorsky helicopters and other aerospace and building products.

Chenevert says he sees no changes in the near future.

David hand-picked Chenevert, then president of Pratt & Whitney, as his likely successor more than three years ago.

David, 67, took the helm as CEO of United Technologies in 1994 and continued as chairman since April 2008 when Chenevert, 52, was elected CEO.

Chenevert joined Pratt & Whitney in 1993 after establishing a reputation as a troubleshooter at General Motors Corp.

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