David Gitlin
Also at Carrier Global Corp
About
David Gitlin serves as the driving force behind Carrier Global Corporation, leading the company during a significant period of transformation following its spinoff from UTC. His extensive career spans over two decades at UTC where he held several key leadership roles that laid the foundation for his strategic vision and operational excellence at Carrier.
Throughout his tenure, Gitlin has been recognized for steering the company through complex portfolio transformations, including major acquisitions and divestitures that have positioned Carrier as a leader in intelligent climate and energy solutions. His experience in aerospace and industrial manufacturing has contributed significantly to his effective leadership and decision-making.
In addition to his executive roles, Gitlin also holds a board position at The Boeing Company, reinforcing his influence across the aerospace and industrial sectors. Despite the absence of detailed personal educational background, his career accomplishments and commitment to innovation underscore a professional legacy built on strong operational, strategic, and leadership capabilities.
$CARR Performance Under David Gitlin
Past Roles
| Organization Citation | Role Citation | Date Range Citation | Details Citation |
|---|---|---|---|
| Carrier Global Corporation (CARR) | President and Chief Executive Officer | June 2019 | Held role prior to current position |
| Carrier Global Corporation (CARR) | President, HVAC | December 2019 to March 2020 | N/A |
| United Technologies Corporation (UTC) | President & Chief Operating Officer, Collins Aerospace Systems | 2018–2019 | N/A |
| United Technologies Corporation (UTC) | President, UTC Aerospace Systems | 2015–2018 | N/A |
| United Technologies Corporation (UTC) | President, Aircraft Systems, UTC Aerospace Systems | 2013–2015 | N/A |
| United Technologies Corporation (UTC) | President, Aerospace Customers & Business Development, Hamilton Sundstrand | N/A | N/A |
| United Technologies Corporation (UTC) | President, Auxiliary Power, Engine & Control Systems, Hamilton Sundstrand | N/A | N/A |
| United Technologies Corporation (UTC) | Vice President & General Manager, Power Systems, Hamilton Sundstrand | N/A | N/A |
| United Technologies Corporation (UTC) | Vice President, Pratt & Whitney Programs, Hamilton Sundstrand | N/A | N/A |
| United Technologies Corporation (UTC) | General Manager, Rolls-Royce/General Electric Programs, Hamilton Sundstrand | N/A | N/A |
| United Technologies Corporation (UTC) | Various positions at UTC headquarters and Pratt & Whitney | N/A | N/A |
External Roles
| Organization | Role | Date Range | Details |
|---|---|---|---|
| The Boeing Company | Director | Since 2022 | Active board position |
Fixed Compensation
| Component Name | Amount | Payment Schedule | Additional Details |
|---|---|---|---|
| Base Salary | $1,500,000 | Annual (as of December 31, 2024) | Fixed cash compensation |
| All Other Compensation | $926,134 | Annual | Includes: Personal Use of Corporate Aircraft ($175,318 ), Insurance Premiums ($115,692 ), Company Contributions to 401(k) Plans ($27,067 ), Nonqualified Retirement Contributions ($550,439 ), Financial Planning ($18,375 ), Health Benefits ($36,997 ), Miscellaneous ($2,246 ); Tax Preparation Payments not provided. |
Performance Compensation
Non-Equity Incentive Plan Compensation
| Metric | Threshold | Target | Maximum | Evaluation Period | Vesting/Payment Schedule | Additional Details |
|---|---|---|---|---|---|---|
| Annual Bonus Payout | $438,375 | $2,625,000 | $5,250,000 | Annual | Cash payout at year-end based on performance | Bonus target equals 175% of base salary. Metrics include Adjusted Operating Profit, Sales, and Free Cash Flow. |
Supplemental Equity Awards
| Component | Performance Metric | Threshold | Target | Maximum | Vesting Schedule | Additional Details |
|---|---|---|---|---|---|---|
| PSUs | EPS CAGR | $3.22 EPS / 13.5% | $3.60 EPS / 17.8% | $3.95 EPS / 21.5% | Vests in 3 equal annual installments on January 30, 2027, 2028, and 2029 | Grant Date: January 30, 2024 ; Grant Date Fair Value: $23,844,580 ; Forfeited if performance goals not met. |
| SARs | Stock Price Appreciation (in context of Relative TSR)* | N/A | N/A | N/A | Cliff vesting on January 30, 2029 after a 10-year term | Grant Date: January 30, 2024 ; Grant Date Fair Value: $25,120,805 ; Value delivered if stock price exceeds $56.33. |
*Note: SARs under the Supplemental Equity Awards and Option Awards both reference performance based on stock price appreciation.
Option Awards
| Metric | Details | Evaluation/Conditions | Additional Details |
|---|---|---|---|
| SARs (Option Awards) | Cash-settled options based on stock price movement | Measured on Relative TSR; cliff vesting on the fifth anniversary | Grant Date: January 30, 2024 ; Grant Date Fair Value: $29,602,373 ; Exercise Price: $56.33. |