Textron names Richard Millman CEO |
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Thu, 18 Jan 2007 23:55
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PROVIDENCE, R.I. (AFX) - Textron Inc. on Thursday named Richard J. Millman president and chief executive of its Bell Helicopter unit and head of the company's Bell arm.Millman, former president of Textron Systems, is replacing Michael Redenbaugh, who resigned. Textron Systems is a $1 billion unit that produces specialized marine aircraft and armored vehicles.Millman has served in various capacities at Textron for the last 20 years, including as vice president and chairman at Textron Systems.Separately, Frank Tempesta will succeed Millman in his former post as president of Textron Systems. Millman served as executive vice president and chief operating officer of Textron's six operating units.Shares of Textron dropped $2.15, or 2.2 percent, to $95.75 in aftermarket trading, after dropping 30 cents to close at $97.90 on the New York Stock Exchange.Copyright 2006 Associated Press. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed.
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