Textron Names Herbert Henkel President and Director
24 February 1999
Textron Names Herbert Henkel President and Director
PROVIDENCE, R.I.--Feb. 24, 1999--Textron Inc. Chairman and Chief Executive Officer Lewis B. Campbell today announced that the company's Board of Directors has elected Herbert L. Henkel president, effective immediately. The Board has also appointed Henkel director, effective March 25, 1999. He retains his title as chief operating officer (COO).As part of the company's well-defined succession plan, Henkel, 50, was named executive vice president and chief operating officer in July 1998. His promotion to president follows Campbell's appointment to chairman on February 1, 1999. Henkel is responsible for Textron's global operations, overseeing the company's 28 business units located in 23 countries and employing 64,000 people. In addition, Henkel serves on Textron's Management Committee and Executive Leadership Team.
"I am very pleased that such a talented and proven executive as Herb Henkel has been named president, COO and director," said Campbell. "Over the years, Herb has achieved a tremendous track record of success at Textron. His intense focus, hands-on management style and proven capability to deliver growth and achieve operating excellence will drive our company to new levels of performance," he continued.
Prior to becoming executive vice president and COO last July, Henkel had been president of Textron's $4 billion Industrial Products segment, which comprised 38% of Textron's 1998 revenues. Since Henkel assumed responsibility for Industrial Products in 1993, revenues for the segment have more than doubled. Under his leadership, the segment acquired 17 companies, expanded into 17 countries and led Textron's globalization effort. Among Henkel's most significant achievements was the creation of Textron Fastening Systems - today the global leader in engineered fastening solutions.
"Herb is intensely committed to achieving our vision for Textron -- to be one of the world's best-managed companies with global leadership positions in each of our businesses. I am confident that as president and COO, Herb will seize the right opportunities to grow and enhance our company's worldwide operations in support of this goal," said Campbell.
From 1987 to 1993, Henkel was president of Greenlee Textron, a Rockford, Ill.-based maker of tools for wire and cable installation and maintenance.
Before joining Textron in 1987, Henkel was president and chief operating officer of Southern Fastening Systems and Unifast Industries, Inc. He had previously served as vice president of sales and marketing for Chicago Pneumatic Tool Co. and Hilti, Inc. Earlier in his career, Henkel was a design engineer at Grumman Aerospace, and a member of the technical staff at Bell Laboratories.
A native of Austria, Henkel holds a BS in aerospace engineering and applied mechanics, and an MS in mechanical engineering from Polytechnic University, New York. He also holds an MBA from Pace University, New York and is a director of the Kollmorgen Corporation.
Textron Inc. is a $10 billion, global, multi-industry company with market-leading operations in Aircraft, Automotive, Industrial and Finance.