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Textron Appoints New CEO

Prior to joining Textron, Mr. Donnelly was president and CEO of GE's Aviation unit

Textron’s board of directors has appointed Scott Donnelly as CEO. He will succeed current chairman and chief executive officer, Lewis Campbell upon his retirement, effective December 1. The board also elected Mr. Donnelly to the board of directors effective October 1.

The company stated that Mr. Campbell will remain as non-executive chairman of the board until no later than the 2011 annual meeting of shareholders. He spent his 17-year career at Textron, including 11 years as CEO.

Mr. Donnelly joined Textron in June 2008 as chief operating officer and was named president in January 2009. Prior to joining Textron, he spent 19 years with General Electric, most recently as president and CEO of its $16 billion Aviation unit.

Mr. Donnelly said: “I am extremely pleased to lead this company at a time of such great opportunity. Textron’s portfolio features renowned brands and some of the most sophisticated and leading technology products in the world. I am confident that our passion to find new ways to bring value to our customers – combined with our steadfast execution of our financial and operational strategies – will continue to build Textron’s value for all its stakeholders. I look forward to working with Lewis to finalize our transition process.”