Textron Announces Jack Pelton Retires from Cessna

PROVIDENCE, R.I., May 02, 2011 (BUSINESS WIRE) -- Textron Inc. (NYSE:TXT) today announced that Jack J. Pelton, chairman, president and CEO of its Cessna Aircraft unit, has retired from the company, and that a search for his successor is underway. Textron Chairman and CEO Scott C. Donnelly will run the business until a successor is named.

Pelton joined Cessna in November 2000 as senior vice president, Product Engineering and oversaw Cessna's engineering and product development activities, including new aircraft development, design, experimental and production test flight, certifications and product improvements for all Cessna models. He was named president and chief executive officer in 2003 and chairman in 2005.

Commenting on Pelton's departure, Textron Chairman and CEO Scott C. Donnelly said, "Under Jack's leadership, Cessna achieved many significant program and product milestones and strengthened its position as a thought leader in the aviation industry. We appreciate Jack's efforts and wish him the best in his future endeavors."

About Cessna Aircraft Company

Cessna is the world's leading general aviation company. Since its inception in 1927, Cessna has designed, produced and delivered more than 192,500 airplanes around the globe. This includes more than 6,100 Citation business jets, making it the largest fleet of business jets in the world. Today, Cessna has two principal lines of business: aircraft sales and aftermarket services. Aircraft sales include Citation business jets, Caravan single-engine utility turboprops, single-engine piston aircraft and lift solutions by CitationAir. Aftermarket services include parts, maintenance, inspection and repair services. In 2010, Cessna delivered 535 aircraft, including 179 Citation business jets, and reported revenues of $2.6 billion. More information about Cessna Aircraft Company is available at www.cessna.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.

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