Textron Appoints Three Asian Business and Political Leaders
9 April 1999
Textron Appoints Three Prominent Asian Business and Political Leaders to International Advisory Council
PROVIDENCE, R.I.--April 9, 1999--Textron Inc. today announced the appointment of three prominent Asian business and political leaders to the company's International Advisory Council (IAC). In Yong Chung, the former Deputy Prime Minister and Finance Minister of Korea; Toyoo Gyohten, President of the Institute for International Monetary Affairs in Japan; and Lee Hsien Yang, President and Chief Executive Officer of Singapore Telecommunications Ltd., were appointed to the advisory body. Textron's IAC is a group of 13 distinguished individuals from Asia, Europe, Latin America and North America which provides advice and guidance on business, political and economic issues relevant to Textron and its global operations."The wealth of knowledge and depth of experience of the IAC brings valuable global perspective to Textron's international operations," said Textron Chairman and Chief Executive Officer Lewis B. Campbell. "These three new members will considerably enhance our understanding of the Asian business and political environment, which is critical to Textron's continued growth and development in this region," he added.
In Yong Chung has had a distinguished career of service within both the public and private sector in Korea. During his government career, Chung served as the Minister of Finance and as Deputy Prime Minister (Economic Planning Board). After his Korean government service, Chung joined the Asian Development Bank, serving as both its Vice President of Projects and Vice President of Finance and Administration. In 1994, he was appointed President of China Enterprise Investment Management Ltd. in Hong Kong, later serving as Chairman from 1996 to 1997. Chung has been a senior advisor to many financial institutions and corporations, including the Bank of Korea, the Korea Development Institute, the Korea Exchange Bank, the Korea Federation of Banks, and currently Korean Air. He holds undergraduate and graduate degrees from the Seoul National University.
Toyoo Gyohten's experience spans over forty years of leadership roles with the Japanese Ministry of Finance and leading global financial institutions. Gyohten was named Vice-Minister of Finance for International Affairs in 1986, a post he continued until his retirement from the Ministry in 1989. From 1988 to 1990, he was the Chairman of Working Party III for the Organization for Economic Cooperation and Development (OECD) in Paris, and later served as a visiting professor at Harvard University, Princeton University and the University of St. Gallen in Switzerland. In 1991, he joined the Bank of Tokyo and was elected Chairman in 1992. After the Bank of Tokyo's merger with The Mitsubishi Bank, Ltd. in 1996, he became Senior Advisor to the newly created The Bank of Tokyo-Mitsubishi, Ltd. Concurrent with this advisory role, since 1995, he has served as President of the Institute for International Monetary Affairs, a foundation established by the Bank of Tokyo. Gyohten is a member of a number of leading institutions dedicated to financial and economic development, planning and policy, including the Bretton Woods Committee and the Asia Pacific Advisory Committee for the New York Stock Exchange. He is a graduate of the University of Tokyo and studied at Princeton University on a Fulbright Scholarship.
Lee Hsien Yang had a distinguished career in the Singapore Armed Forces, serving last as a Brigadier General and Director, Joint Operations and Planning Directorate. Lee joined Singapore Telecom in 1994 as Executive Vice President (Local Services) and was subsequently appointed Deputy President. In this position, Lee was active in overseeing the overall operations of the international investments, international services and local services directorates. In 1995, Lee was appointed President and Chief Executive Officer of Singapore Telecom, assuming responsibility for the company's overall operations. A graduate of Cambridge University and Stanford University, Lee sits on the Singapore Science Centre Board as Chairman, and is a Member of the Land Transport Authority Board.
Other members of Textron's International Advisory Council include Richard R. Burt, former U.S. Ambassador to Germany and Chairman of IEP Advisors Inc.; Jean Gandois, Chairman of Cockerill Sambre S.A. and former President of the French National Council of Employers (CNPF) in France; Dr. Carl H. Hahn, Chairman Emeritus of the Board of Management of Volkswagen AG in Germany; Jeffrey L.S. Koo, Chairman and CEO of Chinatrust Commercial Bank in Taiwan; Marcilio Marques Moreira, Brazil's former Minister of the Economy; Dr. Andrzej Olechowski, Poland's former Minister of Foreign Affairs and Chairman of the Central European Trust Polska Limited; Sir Charles Powell, Director of Jardine Matheson Holdings Limited in the UK; Sir William Purves, former Chairman of HSBC Holdings Inc.; Ratan N. Tata, Chairman of Tata Industries Limited in India; and Dr. Horst Teltschik, a member of the Board of Management of BMW AG in Germany.
With manufacturing operations in 23 countries, Textron derives 35% of its revenues from non-U.S. sources. Approximately 29 percent of the company's global workforce of 64,000 employees are based outside of the United States. Since 1992, the company has acquired 16 non-US businesses and established two joint ventures with partners in Europe and Asia.
Textron Inc. is a $10 billion, global, multi-industry company with market-leading operations in Aircraft, Automotive, Industrial and Finance.