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    Textron Inc (TXT)

    CFO Change

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    Business Description

    Textron Inc. is a multi-industry company known for its diverse operations across several segments, including aviation, defense, and industrial products. The company manufactures a range of products such as Cessna and Beechcraft aircraft, military and commercial helicopters, and specialized vehicles, while also providing financing solutions for its aviation and helicopter products . Textron is committed to innovation, particularly in sustainable aviation solutions through its eAviation segment .

    1. Textron Aviation - Leads in general aviation by manufacturing Cessna and Beechcraft aircraft.
    2. Industrial - Designs and manufactures automotive and specialized vehicles, including Kautex and Specialized Vehicles.
    3. Bell - Produces military and commercial helicopters and tiltrotor aircraft.
    4. Textron Systems - Focuses on defense products, including unmanned systems and armored vehicles.
    5. Textron eAviation - Develops sustainable aviation solutions, including electric aircraft.
    6. Finance - Provides financing solutions primarily for Textron Aviation and Bell products.

    Key Metrics

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    Executive Team

    NamePositionStart DateShort Bio
    Scott C. DonnellyChairman, President, and Chief Executive OfficerJune 2008Scott C. Donnelly joined Textron in June 2008 as Executive Vice President and Chief Operating Officer. He became CEO in December 2009 and Chairman in September 2010 .
    Frank T. ConnorExecutive Vice President and Chief Financial OfficerAugust 2009Frank T. Connor joined Textron in August 2009. He announced his retirement effective February 28, 2025 .
    Julie G. DuffyExecutive Vice President and Chief Human Resources OfficerApril 2022Julie G. Duffy was named Executive Vice President, Human Resources in July 2017 and assumed her current role in April 2022. She joined Textron in 1997 .
    E. Robert LuponeExecutive Vice President, General Counsel, Secretary, and Chief Compliance OfficerFebruary 2012E. Robert Lupone joined Textron in February 2012. Before joining Textron, he was Senior Vice President and General Counsel of Siemens Corporation (U.S.) .
    David RosenbergVice President, Investor Relations (Current); Executive Vice President and Chief Financial Officer (Effective March 1, 2025)March 1, 2025David Rosenberg is currently the Vice President of Investor Relations and will become the Executive Vice President and CFO on March 1, 2025. He has over 24 years of experience in the aviation industry .
    Scott HegstromVice President, Strategy and Mergers & Acquisitions (Current); Vice President, Investor Relations (Effective March 1, 2025)March 1, 2025Scott Hegstrom will become the Vice President of Investor Relations on March 1, 2025. He previously served as Vice President of Strategy and Mergers & Acquisitions .

    Questions to Ask Management

    1. Given the ongoing softness in certain Industrial markets and your expectation of revenues around $3.5 billion with a segment margin of about 4% , could you elaborate on the specific restructuring plans you have, and how they will address the challenges in the softer market segments?

    2. With eAviation expected to have revenues of about $35 million and a segment margin loss of around $75 million , what is your roadmap for eAviation, and how do you plan to turn this segment profitable?

    3. The five-week strike in your Aviation segment resulted in a $0.5 billion revenue adjustment and production inefficiencies ; what measures are you taking to mitigate the impact on your financials, and how will this affect your production and delivery schedules going into 2025?

    4. Auto markets are down globally, especially in Europe where volumes are below expectations ; how is this affecting your Kautex business, and what strategies are in place to navigate the challenges in the European automotive sector within your Industrial segment?

    5. You mentioned ongoing supply chain issues and the focus on getting parts from suppliers to ramp up production post-strike ; can you provide more details on the specific supply chain bottlenecks you're facing, and how confident are you that these issues will not hinder your capacity expansion and revenue growth plans for 2025?

    Share Repurchase Program

    Program DetailsProgram 1
    Approval DateJuly 24, 2023
    End Date/DurationNo expiration date
    Total additional amount35 million shares
    Remaining authorization18,381,000 shares
    DetailsRepurchase to offset dilution from stock-based compensation and for opportunistic capital management

    Debt Maturity Schedule

    YearAmount Due (Millions)Debt TypeInterest Rate (%)% of Total Debt
    2024357 Current portion of long-term debt N/A10.0% = (357 / 3,582) * 100
    N/A2,884 Long-term debt (Manufacturing group) N/A80.5% = (2,884 / 3,582) * 100
    N/A341 Long-term debt (Finance group) N/A9.5% = (341 / 3,582) * 100

    Auditor

    NameStart DateEnd DateReason for Change
    Ernst & Young LLP1957 PresentCurrent auditor

    Latest news

    Recent developments and announcements about TXT.

    Corporate Leadership

      CFO Change

      ·
      Oct 23, 2024, 12:00 AM

      Frank T. Connor, the Executive Vice President and Chief Financial Officer of Textron Inc., will be retiring effective February 28, 2025. David Rosenberg, currently the Vice President of Investor Relations, will succeed him as CFO starting March 1, 2025 .