Textron Promotes Richter to Vice President Taxes

2 May 2000

Textron Promotes Richter to Vice President Taxes

    PROVIDENCE, R.I.--May 2, 2000--Textron Inc. (NYSE:TXT) today announced the promotion of Norman B. Richter to vice president taxes. Richter succeeds Gregory Hudson, who is retiring from the company to pursue a doctoral degree at Harvard University.
    Effective June 1, Richter will assume responsibility for establishing and implementing worldwide corporate tax and customs policies. He will report to Executive Vice President and Chief Financial Officer Stephen Key.
    "Greg has been a highly valued member of Textron's management team and will be missed. I am very pleased that we have the depth of talent to fill this important position internally. With his impressive background and proven capability, Norm Richter will be a very strong successor to Greg," said Key.
    Since 1998, Richter has served as assistant treasurer international for Textron. He joined the company in 1995 as director tax planning and senior tax counsel. Prior to joining Textron, Richter held senior tax policy positions at the United States Treasury Department (1993-1995), and at the United States Senate Finance Committee (1987-1992). In addition, Richter was a tax attorney for the Washington D.C. based law firm of Steptoe & Johnson (1984-1987), and served as an attorney advisor at the United States Tax Court (1983-1984).
    Richter earned an AB degree from Dartmouth College and a JD from the University of Pennsylvania.
    Replacing Richter as assistant treasurer international is David Wisen, who most recently served as director international treasury. Prior to joining Textron Inc., Wisen spent five and a half years with Textron Financial Corporation, where he served in the positions of vice president and treasurer and vice president of corporate development. In his new position, Richter will report to Vice President and Treasurer Mary Lovejoy.
    Wisen earned his AB degree from Columbia University and a JD from Duke University.

    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.