Frank Tempesta to Retire After 46 Years of Service to Textron
PROVIDENCE, R.I.--(BUSINESS WIRE)--Nov. 16, 2009-- Textron Inc. (NYSE: TXT) today announced that Fred Strader has been named president and CEO of its Textron Systems segment, effective January 1, 2010. He succeeds Frank Tempesta who is retiring after 46 years of outstanding service to Textron.
Strader has been serving as chief operating officer of Textron Systems since April 2008, overseeing the operations of its five operating units. Strader joined Textron Systems in 2007 through Textron’s acquisition of United Industrial Corporation (UIC) and its subsidiary, AAI. Prior to the acquisition, Strader was president and chief executive officer of the publicly traded UIC and led AAI’s Defense System segment.
Before joining AAI, Strader had a 21-year career with United Defense LP and its predecessor company, FMC, where he served as vice president of United Defense and general manager of the company’s Armament Systems Division. He also held key strategic planning, finance and manufacturing positions in FMC and FMC's Agriculture Machinery and Steel Products Divisions.
Strader will report directly to Textron President and Chief Operating Officer Scott Donnelly. “Fred is a long standing defense executive who has a track record of leading organizations to new levels of growth by developing ground-breaking programs – the success of the Shadow in recent years is one example,” said Donnelly. “I am confident his track record of success will continue and that he is the right leader to help Textron Systems maximize the growth opportunities that lie ahead.”
In reference to Strader’s predecessor, Frank Tempesta, Donnelly added, “Frank has done an outstanding job building this business and positioning it for ongoing success. Under Frank’s watch, Textron Systems has tripled its sales and grown into a multi-billion dollar business. We are grateful for his many years of dedication and service to the corporation and wish him the very best in his retirement.”
About Textron Systems
Textron Systems Corporation has been providing innovative solutions to the defense, homeland security and aerospace communities for more than 50 years. Known for its unmanned aircraft systems, advanced marine craft, armored vehicles, intelligent battlefield and surveillance systems, intelligence software solutions, precision smart weapons, piston engines, test and training systems, and total life cycle sustainment services, Textron Systems includes AAI Corporation, Lycoming Engines, Overwatch, Textron Defense Systems and Textron Marine & Land Systems. Textron Systems Corporation is an indirect wholly owned subsidiary of Textron Inc. More information is available at www.textronsystems.com.
About Textron Inc.
Textron Inc. is a multi-industry company that leverages its global network of aircraft, defense, industrial and finance businesses to provide customers with innovative solutions and services. Textron is known around the world for its powerful brands such as Bell Helicopter, Cessna Aircraft Company, Jacobsen, Kautex, Lycoming, E-Z-GO, Greenlee, and Textron Systems. More information is available at www.textron.com.
Source: Textron
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