Bell Helicopter replaces CEO |
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Sat, 20 Jan 2007 02:17
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FORT WORTH, Texas (AFX) - Textron Inc. has named a new executive to run its Bell Helicopter division amid questions about the unit's ability to meet deadlines and budgets for delivering aircraft to customers including the U.S. military.Textron announced late Thursday that Michael Redenbaugh resigned after three years as president and chief executive of the Bell division. Richard J. Millman, president of another Textron unit, was named to replace Redenbaugh.A news release and e-mail to employees from Lewis B. Campbell, chairman of Providence, R.I.-based Textron, hinted at unhappiness with aspects of Bell's performance.Campbell said the Fort Worth-based helicopter division had increased sales and contracts.'What this means, however, is that we absolutely must step up our capabilities to meet our commitments to our customers in critical areas such as quality, delivery and cost,' he said in an e-mail obtained by the Fort Worth Star-Telegram.Last year, Pentagon officials threatened to cancel a Bell program to rebuild H-1 helicopters for the Marine Corps after the company fell behind schedule and hit cost overruns. Bell also fell behind schedule in building reconnaissance helicopters for the Army.And doubts about the safety and reliability of the V-22 Osprey tilt-rotor aircraft, a joint venture of Bell and The Boeing Co., have swirled for several years.Bell Helicopter accounts for about 16 percent of Textron's revenue.Redenbaugh took the helm at Bell in 2003 and was the division's third leader in as many years.Millman, the new Bell CEO, is a 20-year Textron veteran. He was most recently president of Textron Systems, a $1 billion unit that makes weapons and surveillance systems, marine craft, armored vehicles and aircraft components.Copyright 2006 Associated Press. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed.
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Bell reassigns 24 employees for security 