Corporations: Harry Steps Down - Maybe

Harry Steps Down--Maybe

To corporate executives, naming a successor is like acknowledging one's own mortality. Even for secure, welladjusted CEOs it can be an unpleasant experience. Certainly it has proved a difficult task for Harry Jack Gray, 65, the chairman of Hartford-based United Technologies. Four potential successors have come and gone at United Technologies during the past six years. Last September, Heir Apparent Robert Carlson suddenly resigned as president, amid reports that Gray had allegedly wiretapped his office and home. An investigation by the company's directors uncovered no evidence of such skulduggery.

Last week Gray announced that he will step down as chief executive...

Want the full story?

Subscribe Now


Get TIME the way you want it

  • One Week Digital Pass — $4.99
  • Monthly Pay-As-You-Go DIGITAL ACCESS$2.99
  • One Year ALL ACCESSJust $30!   Best Deal!
    Print Magazine + Digital Edition + Subscriber-only Content on

Learn more about the benefits of being a TIME subscriber

If you are already a subscriber sign up — registration is free!