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United Technologies CEO to leave after Rockwell integration

United Technologies Corp.'s Chairman and CEO Greg Hayes said he intends to resign after the company's integration with avionics and interiors manufacturer Rockwell Collins Inc., a $23 billion deal that is expected to take three to five years, Bloomberg News reported March 19.

The 57-year-old aims to complete the integration of Rockwell Collins and intends to oversee a potential United Technologies breakup, which the company promised to explore in late 2018.

Hayes said in a March 16 interview that he told the board he will be with UTC for "three to five years, and not much beyond that."