Textron Elects Thomas A. Kennedy to Board of Directors

Rhea-AI Summary

Textron Inc. (NYSE: TXT) announced the election of Thomas A. Kennedy to its Board of Directors, effective January 1, 2023. Kennedy, formerly the Executive Chairman of Raytheon Technologies, brings extensive leadership experience in the aerospace and defense sectors. He served as Chairman and CEO of Raytheon from 2014 to 2020 and held various roles during his 38-year tenure there. His appointment is expected to enhance Textron's strategic direction and operational capabilities.

Positive

• Kennedy's extensive experience in aerospace and defense could enhance Textron's strategic and operational capabilities.
• His leadership may provide valuable insights for future growth.

Negative

• Concerns may arise regarding potential continuity in company leadership dynamics with the new board member.

PROVIDENCE, R.I.--(BUSINESS WIRE)-- Textron Inc. (NYSE: TXT) announced that Thomas A. Kennedy has been elected to the company’s Board of Directors, effective January 1, 2023. Kennedy retired in June 2021 as the Executive Chairman of the Board of Directors of Raytheon Technologies, an aerospace and defense company that provides advanced systems and services for commercial, military and government customers globally. Prior to serving as Executive Chairman, Kennedy had been the Chairman and Chief Executive Officer of the Raytheon Company which merged with United Technologies Corporation in April 2020, creating Raytheon Technologies.

Thomas A. Kennedy (Photo: Business Wire)

“We are extremely fortunate to welcome Thomas Kennedy to our Board,” said Textron Chairman and CEO Scott Donnelly. “Tom is a recognized leader in the aerospace and defense industry and his depth of experience leading a global public company will be significantly valuable to Textron,” Donnelly added.

Kennedy served as Chairman and Chief Executive Officer of the Raytheon Company, a technology and innovation leader specializing in defense, civil government and cybersecurity solutions, from 2014-2020. He previously held the position of Executive Vice President and Chief Operating Officer of Raytheon Company from 2013-2014. Kennedy joined Raytheon in 1983, holding various leadership roles over his more than 38 years at the company, including senior executive management positions within Raytheon’s Unmanned and Reconnaissance Systems, Space and Airborne Systems, and Integrated Defense Systems business units.

Prior to joining Raytheon, Kennedy was a captain in the U.S. Air Force. He earned his Bachelor of Science degree in electrical engineering from Rutgers University, Master of Science degree from the Air Force Institute of Technology, and Ph.D in engineering from UCLA.

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, Hawker, 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/20221207005797/en/

Media Contact:

Michael Maynard | 401-457-2362

mmaynard@textron.com



Investor Contacts

Eric Salander | 401-457-2288

Cameron Vollmuth | 401-457-2288

Source: Textron

FAQ

Who is Thomas A. Kennedy and what is his background?

Thomas A. Kennedy is a former Executive Chairman of Raytheon Technologies with over 38 years of experience in the aerospace and defense industry.

When was Thomas A. Kennedy elected to Textron's Board of Directors?

He was elected effective January 1, 2023.

What impact could Thomas A. Kennedy's election have on Textron's future?

His extensive experience in the aerospace and defense sectors may enhance Textron's strategic direction and operational strength.