Textron Names Two Execs to Head Automotive and Fastening Systems Businesses
1 August 2000
PROVIDENCE, R.I. - Textron Inc. named two key internal executives to new leadership positions. Jack Sights has been named chairman, president and CEO of the $3 billion Textron Automotive Company, and Joachim "Jake" Hirsch has been named chairman, president and CEO of the $2.3 billion Textron Fastening Systems group. These appointments follow the recent announcement that former Textron Automotive Company Chairman, President and CEO Sam Licavoli was named chairman, president and CEO of the $3 billion Textron Industrial Products group.
Sights most recently served as chairman, president and CEO of Textron Fastening Systems, while Hirsch served as president and CEO of Kautex Textron, a division of Textron Automotive Company.
These two executives serve on Textron's Executive Leadership Team, a thirteen-member body of the company's senior corporate and operations executives. Sights is already a member, while Hirsch joins as a result of this promotion.
"Having led our Germany-based Kautex operation, Jake will add a European voice to our Executive Leadership Team," said Textron Chairman and Chief Executive Officer Lewis B. Campbell. "This is especially important as we work towards expanding and improving our operations around the world."
Both Sights and Hirsch will report to Textron President and Chief Operating Officer John A. Janitz.
"We're thrilled to be able to draw on our bench strength to fill these key positions," said Janitz. "Jack and Jake are experienced leaders who have first-hand knowledge of Textron's businesses and how we operate. Their insight will help ensure a smooth transition in leadership and will help us more naturally discover synergies across business segments."
Jack Sights to Lead Textron Automotive Company
Sights, 53, joined Textron in 1999 and most recently served as chairman, president and chief executive officer of Textron Fastening Systems group.
Sights has more than 25 years of experience in the automotive industry. Before coming to Textron last year, he served as president of Guardian Industries Corporation's Automotive Products Group for 11 years. During his tenure at Guardian, the Automotive Products Group dramatically increased revenue and profitability. Before joining Guardian in 1988, he was vice president and general manager of Automotive Operations at Schlegel Corporation.
Sights' industry affiliations include: co-chairman of the GM Supplier Council and member of the Auto Parts Advisory Committee (APAC) of the United States Department of Commerce, the Engineering Society of Detroit, the Society of Plastics Engineers, the Society of Automotive Engineers, the Automotive Presidents Council (MEMA) and the Economic Club of Detroit. He is a former member of The Chrysler Supplier Roundtable, the Ford Top 100, and was a charter member of the GM BOC Council and the GM CPC Council.
During Sights' tenure at Textron Fastening Systems, the business improved its operating margin from quarter to quarter and increased its presence in such high growth markets as telecommunications and electronics.
His focus at Textron Automotive Company will be to drive the strategy to ensure continued growth of the business, to assess its global position and develop plans to leverage capabilities and competencies, and to continue to develop a broad base of talent.
With more than 16,000 employees in 18 countries, Textron Automotive Company is a leading global supplier of instrument panels, cockpit modules, exterior and interior trim, plastic fuel tanks and automotive systems and components. Globally recognized for breakthrough proprietary technologies and quality, Textron Automotive Company has received more than 50 awards for excellence in North America, Europe and Asia.
Jake Hirsch to Lead Textron Fastening Systems
Hirsch, 48, joined Textron in 1999 as president and chief executive officer of the $900 million Kautex Textron division of Textron Automotive Company. A world leader in advanced fuel systems, plastic fuel tanks and blow-molded functional components, Kautex Textron has more than 4,000 employees in Europe, Asia, North America and South America.
Before joining Textron, Hirsch was chief operating officer and member of the board of Magna Europe AG, where he was responsible for that automotive company's $3 billion operation, with more than 16,000 employees at 66 facilities in 10 countries. Prior to Magna, he held various management positions throughout the world with TRW Inc. from 1976 to 1998, including vice president and managing director, Occupant Restraint Systems Group Europe.
Under Hirsch's management, Kautex significantly improved margins while expanding market share and outpacing overall market growth. In his 10 months at Kautex, Hirsch transformed the company from an automotive components manufacturer to a full systems supplier to better serve the needs of OEMs. In addition, during Hirsch's tenure, Kautex has continued to be recognized with major quality and innovation awards from OEMs worldwide.
As chairman, president and CEO of Textron Automotive Company, Jack Sights will serve as acting president and CEO of Kautex until Hirsch's successor is named.
Hirsch will apply his experience in driving growth and improving margins to the Textron Fastening Systems group. Over the past several years, this group has produced strong double-digit growth through a combination of strategic acquisitions and organic growth. Hirsch will focus on continuing this growth while improving margins and providing superior products and customer service.
Textron Fastening Systems is the leading global provider of engineered fasteners, state-of-the-art engineered assemblies, and inventory management services, serving the aerospace, automotive, computer, consumer, construction, industrial, medical, telecommunications, and inventory management industries. With more than 16,000 employees in 18 countries, Textron Fastening Systems supplies products and services to customers in more than 70 countries.
Global experience and operating focus: hallmarks of both Sights and Hirsch
"Both Jack and Jake bring extensive operating and management skills in the manufacturing industry to their new positions. Jack's background in the automotive industry, combined with his focus on growth and cost-reduction, make him a perfect leader to continue the success at Textron Automotive Company," said Campbell. "Jake's strong focus on operational improvements and his extensive international experience will continue the work Jack began at Fastening Systems in improving operating margin and organic growth," he added.
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."