Textron Announces CFO Frank Connor Retirement Effective February 28, 2025

Rhea-AI Summary

Textron Inc. (NYSE:TXT) has announced significant leadership changes in its financial team. Frank T. Connor, executive vice president and chief financial officer, will retire on February 28, 2025. David Rosenberg, currently vice president of Investor Relations, will succeed Connor as CFO effective March 1, 2025. Rosenberg brings over 24 years of aviation industry experience, including serving as CFO of Textron Aviation and leading the successful merger of Beechcraft and Cessna Aircraft. Additionally, Scott Hegstrom, current vice president of Strategy and Mergers & Acquisitions, will assume the role of vice president of Investor Relations.

Positive

• Smooth leadership transition with internal promotion indicates strong succession planning
• New CFO brings 24 years of aviation industry experience
• Incoming CFO has proven track record with successful Beechcraft-Cessna merger integration

Negative

• None.

Insights

Market Research Analyst

A planned CFO transition more than a year in advance signals a well-orchestrated succession strategy at Textron. David Rosenberg's extensive 24-year aviation industry experience, particularly his successful management of the Beechcraft-Cessna merger and his recent CFO role at Textron Aviation, suggests a smooth leadership transition. His deep understanding of Textron's core aviation business is particularly valuable given the segment's significance to the company's operations.

The extended notice period provides ample time for knowledge transfer and continuity in financial operations. Frank Connor's 15-year tenure as CFO has provided stability and the internal promotion maintains institutional knowledge while potentially signaling continuation of existing financial strategies.

David Rosenberg, Vice President, Investor Relations, to Succeed Connor

PROVIDENCE, R.I.--(BUSINESS WIRE)-- Textron Inc. (NYSE:TXT) today announced that Frank T. Connor, executive vice president and chief financial officer, has notified the Company that he intends to retire on February 28, 2025. David Rosenberg, Textron’s vice president, Investor Relations, has been elected to succeed Connor as executive vice president and chief financial officer, effective March 1, 2025.

David Rosenberg (Photo: Business Wire)

“On behalf of the Board of Directors, I would like to thank Frank for his outstanding leadership over the past 15 years,” said Scott Donnelly, Textron chairman and chief executive officer. “We are grateful for the significant contributions he has made across Textron in helping to drive financial and operational excellence.”

Rosenberg, Textron’s vice president, Investor Relations, has more than 24 years of experience in the aviation industry. Prior to his current role, he served as senior vice president & chief financial officer of Textron Aviation from 2018 to January 2024, having previously held leadership positions in finance at Textron Aviation. Following Textron’s acquisition of Beechcraft in 2014, as Textron Aviation’s vice president, Integration & Strategy, Rosenberg led the successful merger and integration of Beechcraft and Textron’s Cessna Aircraft business, which created today’s Textron Aviation segment. Prior to Textron’s acquisition of Beechcraft, Rosenberg held a series of leadership positions in financial planning, business management, strategic planning and operations with Beechcraft and its predecessor companies.

“I am proud to welcome David as our new CFO,” Donnelly said. “With his extensive background in financial management, including his leadership of the finance organization at Textron Aviation, and his deep understanding of our business, he is the ideal leader to step into this role."

Reflecting the strength of Textron’s long-term succession planning, Scott Hegstrom, Textron’s vice president, Strategy and Mergers & Acquisitions, has been elected vice president, Investor Relations, also effective March 1, 2025.

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, Cessna, Beechcraft, Pipistrel, Jacobsen, Kautex, Lycoming, E-Z-GO, Arctic Cat, and Textron Systems. For more information, visit: www.textron.com.

View source version on businesswire.com: https://www.businesswire.com/news/home/20241023660049/en/

Media Contact:

Michael Maynard 401-457-2362



Investor Contact:

David Rosenberg 401-457-2288

Kyle Williams 401-457-2288

Source: Textron

FAQ

When will Frank Connor retire as Textron (TXT) CFO?

Frank Connor will retire as Textron's CFO on February 28, 2025.

Who will be the new CFO of Textron (TXT)?

David Rosenberg, current vice president of Investor Relations, will become Textron's new CFO effective March 1, 2025.

What is David Rosenberg's experience before becoming Textron (TXT) CFO?

David Rosenberg has over 24 years of aviation industry experience, served as CFO of Textron Aviation from 2018 to 2024, and led the Beechcraft-Cessna merger integration.

Who will replace David Rosenberg as Textron (TXT) VP of Investor Relations?

Scott Hegstrom, current vice president of Strategy and Mergers & Acquisitions, will become the new vice president of Investor Relations effective March 1, 2025.