The executive in charge of United Technologies Corp's building systems business, Geraud Darnis, is leaving the company in the latest management change at the U.S. conglomerate. As president of UTC Building & Industrial Systems, Darnis has been overseeing divisions that accounted for just less than half of the company's $65 billion in revenue last year. The divisions include Otis elevators and Carrier climate control systems. Darnis, a 32-year United Tech veteran, will retire in January, the company said in announcing his departure on Monday. The news came less than a week after United Tech cut its 2015 profit outlook for the third time this year, in part because of weaker expected results at Otis, sending its shares down 7 percent. Darnis's departure is the latest executive change under United Tech Chief Executive Greg Hayes, who was promoted from finance chief in November. Alain Bellemare, who held a similar role to Darnis overseeing United Tech's aerospace divisions, left the company at the start of the year and is now CEO of Montreal-based Bombardier Inc. In a statement, Hayes said he would work with Darnis over the next few months "to ensure a smooth and successful transition of the leadership responsibilities for UTC Building & Industrial Systems". Darnis became head of building systems after United Tech combined Otis and its UTC Climate, Controls and Security unit into one business in September 2013. Otis and UTC Climate are seeking to capitalize on growth in cities in emerging markets, but have been hurt by concerns over China's slowing economy.