Textron Names Smith to Lead Global Fastener Group
14 December 1998
Textron Names Smith to Lead Global Fastener Group
PROVIDENCE, R.I.--Dec. 14, 1998--Textron today announced it has named Randy P. Smith president of Textron Fastening Systems (TFS). In this role, Smith will oversee more than nine fastener businesses operating on four continents and employing over 15,000 people.
Smith, 48, joined Textron in July as head of Textron Fastening Systems-Americas from Automatic Switch Company, a New Jersey-based subsidiary of Emerson Electric. Since 1993, Smith served as president of this subsidiary employing 4,000 workers at 23 sites around the world. Smith replaces Frank Gulden, age 62, who will retire from Textron at the end of January 1999.
"With his strong finance background and excellent track record in managing global operations, Randy will be an asset to our rapidly expanding fastener business," said Textron Industrial Products President Frank J. Feraco.
In his new role as president of TFS, Smith will oversee the global operations of TFS Americas, TFS Europe and TFS Asia, which include product brands from Avdel Textron, Camcar Textron, Elco Textron, Ring Screw Textron, Textron Aerospace Fasteners and Textron Industries S.A.
Smith joined Emerson Electric in 1989 as Chief Financial Officer (CFO) of its subsidiary Rosemount, Inc., a Minnesota-based maker of manufacturing process control instruments with 10,000 employees at 33 sites. Prior to this position, he was Vice President and CFO of Blackstone Corporation. From 1983 to 1988, Smith worked for the Carrier Corporation, a subsidiary of United Technologies Corporation, where he ultimately held the post of finance director for its North America Operations.
Smith, a Michigan native, received an MBA and a BBA, both from the University of Toledo, Ohio.
With nearly $2 billion in annualized revenues, Textron Fastening Systems is the global leader in engineered fastening systems and assemblies serving the automotive, aerospace, appliance, electronics, construction, do-it-yourself and inventory management industries. Textron Fastening Systems, with 68 locations in 17 countries, is a part of Textron's Industrial segment.
Textron Inc. is a $10 billion, global, multi-industry company with market-leading operations in Aircraft, Automotive, Industrial and Finance.