Textron Moves to Streamline Organization

In its continuing effort to accelerate performance improvements, increase operational efficiencies and streamline its structure, Textron Inc. last week announced several changes to its organization, including a consolidation of its Industrial Components and Industrial Products segments. Steve Loranger, Textron’s COO, will serve as head of the new combined industrial segment in addition to his other operating responsibilities.

“Textron has set aggressive targets to improve its operating performance. By having more of our businesses report directly to me, we are eliminating staff costs while accelerating our communications and decision-making processes,” said Loranger.

The new structure eliminates two segment president positions and significantly streamlines the staffs previously required to support them. The following Textron business unit executives will now report directly to Loranger as head of the new Industrial Products segment: Jon Carlson, president of Jacobson and OmniQuip; John Garrison, president of E-Z-GO; Barclay Olson, president of Tools & Components and Textron’s Fluid and Power businesses; and Lothar Rosenkrnaz, president of Kautex.

Textron Systems and Lycoming, both headed by Textron Systems’ president Richard Millman, will report to Bell Helicopter CEO Mike Redenbaugh.

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