Textron Promotes Bohlen to Executive VP and Chief Innovation Officer

10 April 2000

Textron Promotes Bohlen to Executive Vice President and Chief Innovation Officer; Bohlen Aggressively Leading Textron's E-Business Strategy

    PROVIDENCE, R.I.--April 10, 2000- Textron Inc. today announced that Senior Vice President and Chief Information Officer Kenneth Bohlen has been promoted to executive vice president and chief innovation officer, reporting to Chairman and Chief Executive Officer Lewis B. Campbell. Bohlen retains his position on Textron's Executive Leadership Team and becomes the seventh member of the company's management committee.
    Bohlen joined Textron from AlliedSignal in November 1999. "Since his arrival at Textron, Ken has established himself as a dynamic, astute leader capable of catalyzing and implementing new concepts in our complex organization," said Campbell. "This promotion reflects the value we place on Ken's role, and our confidence in his continued contribution to Textron."
    "We've changed the `I' in Ken's CIO title to `Innovation' to underscore the importance of changing our perception of e-business -- from one that focuses on technology to one that focuses on fundamentally redefining our business model," explained Campbell.
    Since the beginning of the year, Textron's e-business activity has gained significant momentum. In January, the company announced a strategic alliance with Safeguard Scientifics, an Internet holding company with interest in more than 250 Internet-related technology companies. Immediately following this announcement, Textron teamed with Cambridge Technology Partners (a Safeguard network company) to launch a "JumpSmart" program to indoctrinate key managers throughout the company to the realities and implications of e-business.
    In addition, under Bohlen's direction, Textron has formed an E-Business Council (EBC) comprising approximately 30 executives who, after spending five weeks, full-time, off-site, will continue their dedicated effort to identify opportunities for implementing and maximizing e-business throughout the company. "One of the EBC's initial contributions is the launch of e-procurement," said Textron President and Chief Operating Officer John A. Janitz. "Today we are announcing the appointment of Ed Arditte to the newly-created position of vice president of e-procurement to lead the implementation of this key initiative," he continued. (See related press release).
    Bohlen is also leading the creation of an "e-team" - an enterprise-wide service team dedicated to supporting the various e-business initiatives within and across Textron's segments.
    Continuing the momentum, last month Textron Financial announced the creation of AssetControl.com, an online asset disposition and management service that offers one-stop shopping by aggregating broad capabilities and services across a range of vertical industries with a single "face" to the customer. Textron Inc. will use AssetControl.com to consolidate the diverse surplus equipment, inventories and real estate of its 250 plants worldwide. "This is a terrific opportunity for increased efficiencies and cost savings across the corporation," said Campbell.
    Textron Inc. is an $11.6 billion, global multi-industry company with market-leading businesses in Aircraft, Automotive, Industrial and Finance. Textron has a workforce of over 68,000 employees and major manufacturing facilities in 30 countries. Textron is among Fortune magazine's "Global Most Admired Companies." Additional information is available on www.textron.com.