Rockwell Collins CEO to retire as defense business slows

04/22/2013 | Reuters

Rockwell Collins CEO Clay Jones will retire as part of what the company said was a long-established succession plan, and Rockwell President Kelly Ortberg will take the reins of the firm in July. The news comes as the company releases flat quarterly earnings and is seeing its defense business slow. "A lot of the CEOs that have led their companies through the phase of the defense ramp-up are stepping down," said Phil Finnegan, director of corporate analysis at Teal Group.

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