Pall Corp. Finance Chief Akhil Johri Returns To United Technologies As CFO

(RTTNews) - Diversified conglomerate United Technologies Corp. (UTX) announced it has appointed Akhil Johri as senior vice president and chief financial officer, effective January 1, 2015. Johri returns to United Technologies in less that two years after he previously left the company to join as CFO at filtration products maker Pall Corp. (PLL).

"I am thrilled to welcome Akhil back to UTC, where he is highly respected for his strategic insights, financial skills, and his ability to communicate effectively with Wall Street and our shareholder community. We look forward to Akhil's leadership as we continue to focus on creating innovative products and solutions for our global customers and delivering best-in-class returns for our shareowners," new President and CEO Gregory Hayes said in a statement.

Separately, Pall Corp. announced that CFO Akhil Johri has tendered his resignation, effective December 19, to take over a similar position at United Technologies. Pall Corp. said it is currently evaluating succession options.

Johri is currently serving as CFO at Pall Corp. since May 2013 and also served as chief accounting officer from March 2014 to September 2014.

As CFO, Johri will have global responsibility for the company's finance function and for financial communications and investor relations. He will report directly to Hayes.

During his initial tenure at United Technologies, he served the company for 26 years, holding various executive positions of increasing responsibility. He served as the CFO for the company's Carrier Transicold and Fire & Security units as well as for Carrier Asia Pacific operations. He also led corporate investor relations for the company and was fully involved with its financial leadership development program.

The Hartford, Connecticut-based parent company of jet engine manufacturer Pratt & Whitney, Otis elevator, and Sikorsky aircraft, said acting CFO Peter Longo will resume his prior role as vice president of finance & CFO of Propulsion & Aerospace Systems, after Johri assumes his position.

Late in November, United Technologies promoted Senior Vice President and CFO Gregory Hayes as president, CEO and a director to succeed Louis Chenevert, who announced his surprise retirement as chairman and CEO, effective November 23. Chenevert left after 22 years of service, with six years being at the helm.

UTX closed Monday's regular trading session at $113.05, up $0.80 on a volume of 6.35 million shares, while PLL closed at $97.97, down $0.52 on a volume of 0.56 million shares.