Textron Board of Directors Elects Scott C. Donnelly as Chairman of the Board

Published on Thursday, 29 July 2010 13:06 Written by TradersHuddle Staff

PROVIDENCE, R.I.-( Business Wire )-

The Board of Directors of Textron Inc. (NYSE:TXT) today elected Scott C. Donnelly as Chairman of the Board, effective September 1, 2010. Mr. Donnelly, 48, is currently Textron’s president and CEO and has been serving as a member of the Board since October 2009.

Mr. Donnelly succeeds Lewis B. Campbell, 64, who announced his retirement as CEO in September 2009, after 17 years of service to Textron, and has remained as Chairman to assist in the transition.

“I’m delighted that our Board’s succession process has concluded in the election of Scott as Board Chairman,” said Mr. Campbell. “I am certain when I retire from the Board on September 1 that the company – its employees, customers and shareholders – will be very well-served by Scott.”

Speaking on behalf of Textron’s Board of Directors, Lead Director Charles Powell said, “We look forward to working with Scott as Board Chairman and are deeply grateful to Lewis for the many invaluable contributions he has made to Textron, including his willingness to remain on the Board as Chairman after retiring as CEO.”

“I thank Lewis for his dedication and many years of service to Textron” added Mr. Donnelly. “I am honored by the Board’s confidence in me and look forward to serving as Board Chairman.”

About Textron Inc.

Textron Inc. is a multi industry company that leverages its global network of aircraft, defense, industrial and finance businesses to provide customers with innovative solutions and services. Textron is known around the world for its powerful brands such as Bell Helicopter, Cessna Aircraft Company, Jacobsen, Kautex, Lycoming, E-Z-GO, Greenlee and Textron Systems. More information is available at www.textron.com.

Textron Inc.Media Contact:Karen Gordon Quintal, 401-457-2362orInvestor Contacts:Doug Wilburne, 401-457-2288orBill Pitts, 401-457-2288