Textron Names Feraco President of Industrial Products Segment
25 September 1998
Textron Names Feraco President of Industrial Products Segment
PROVIDENCE, R.I.--Sept. 24, 1998--Textron Inc. today announced that Frank J. Feraco has been named President, Industrial Products Segment, effective immediately. He succeeds and will report to Herbert L. Henkel, who was promoted to Executive Vice President and Chief Operating Officer in July.
In his new post, Feraco, 51, will oversee the $3 billion Industrial Products Segment, comprised of four groups: Textron Fastening Systems, Fluid and Power Systems, Golf and Turf-Care, and Industrial Components and Systems. He will also serve on Textron's Executive Leadership Team.
"Frank's extensive experience in leading world-class, market-leading industrial manufacturing businesses makes him the ideal executive for this critical position at Textron," said Textron President and CEO Lewis B. Campbell.
Feraco most recently served as president of the Outdoor-Leisure division of Sunbeam Corporation. He spent seven years with Kohler Company, a world-leading supplier of plumbing products, joining in 1991 as President and Chief Executive Officer of the Sterling Plumbing Group. In 1996, he assumed the role of President and Sector Executive of Kohler's worldwide plumbing business, responsible for the $1.7 billion international operations in Central Europe, China, Australia, Spain, Morocco, South America and Japan, while maintaining his responsibilities at Sterling Plumbing.
Feraco spent 15 years in various management posts at Emerson Electric Company. He joined Emerson's Browning Manufacturing Division in 1975 and progressed through the company's organization to become Vice President of sales and marketing in 1983. In 1985, he joined Emerson's Skil Corporation as Senior Vice President of Sales, and later assumed the additional responsibility for all of Skil's marketing activities.
He also held executive positions with Danaher Corporation, a NYSE-listed manufacturer of durable goods and industrial hardware for the Do-It-Yourself, Automotive and Hardware/Home Center markets. Earlier in his business career, Feraco worked as a marketing specialist in the Consumer Products Division of Mobil Oil Corporation, and as a stock broker for Merrill Lynch Fenner Smith.
Over the past several years, Industrial Products has grown to become the largest business segment of Textron, projected to generate 38% of the company's 1998 revenues. The segment has been highly acquisitive since 1994, making 24 acquisitions in North America, South America and Europe.
"The Industrial Products Segment has significant growth potential," said Textron Executive Vice President and Chief Operating Officer Herb Henkel. "With Frank's proven leadership effectiveness, industry experience and strong strategic business development skills (including mergers and acquisitions), we look forward to the continued growth of this segment."
Feraco earned his Bachelor's degree from the University of Rhode Island and attended Syracuse University's School of Business. He is a member of the Board of Directors of Industrial Transmissions Inc., and is chairman of the executive committee of the Celebrity Tournament Players Association.
In addition, Feraco has assumed leadership roles in numerous professional affiliations and community organizations, including chairman of the board of the American Hardware Manufacturers Association (Schaumburg, IL); director of the Hardware Group Association (Colorado Springs, CO); director of the General Managers Council of the Manufacturers Alliance for Productivity (Washington, D.C.); and co-chairman of the Gateway Foundation (Chicago, IL).
Textron Inc. is a $10 billion, global, multi-industry company with market-leading businesses in Aircraft, Automotive, Industrial and Finance.