Textron Names Loranger Chief Operating Officer

PROVIDENCE, R.I.--Oct. 25, 2002--Textron Inc. today announced that Steven R. Loranger has been named executive vice president and chief operating officer, overseeing Textron's manufacturing business units as well as the corporation's Enterprise Excellence and Information Technology functions. Textron's commercial finance unit will report to Executive Vice President and Chief Financial Officer Ted French.
    "Steve is a well-known leader in the aviation industry, with proven capability to manage a diverse group of businesses. His experience in the aircraft and industrial sectors make him an ideal fit for Textron," said Textron Chairman, President and CEO Lewis B. Campbell. "Steve brings specific expertise in Six Sigma, Supply Chain and customer relationship management, which are critical areas of focus for Textron," Campbell added.
    Loranger joins Textron as a 21-year veteran of Honeywell, where he most recently served as president and CEO of Honeywell Engines, Systems and Services, a $5 billion group comprised of Honeywell's engines businesses, as well as its environmental control systems, electric power, and engine systems and services businesses.
    Before AlliedSignal and Honeywell merged in 1999, Loranger held various executive positions, including president and CEO of AlliedSignal Aerospace Engines, president of the Bendix Truck Brake Group of AlliedSignal Automotive, and vice president of the Commercial Auxiliary Power unit of AlliedSignal Aerospace. He also served as vice president sales and marketing for that unit.
    From 1984-1987, Loranger was sales manager for the Military Power Systems unit of Garrett Turbine Engine Company, a position he held until AlliedSignal's acquisition of Garrett Corporation. Prior to that, he served as sales engineer for Garrett.
    Loranger was an officer and a pilot in the Unites States Navy from 1975-1981. He continues as an active pilot today, with over 3,700 hours of flight time.
    Loranger, 50, is a Phi Beta Kappa graduate from the University of Colorado, where he earned Bachelors and Masters degrees in science. He serves on several community and professional boards, including the Congressional Medal of Honor Board.
    Textron Inc. is a $12 billion multi-industry company with more than 51,000 employees in 40 countries. Textron leverages its global network of businesses to provide customers with innovative solutions and services in industries such as aircraft, fastening systems, industrial products and components and finance. Textron is known around the world for its powerful brands such as Bell Helicopter, Cessna Aircraft, Kautex, Lycoming, E-Z-GO and Greenlee, among others. More information is available at www.textron.com.