Textron Announces Leadership Changes with CFO Retirement and Successor Appointment

Textron Inc. (NYSE:TXT) disclosed in a recent 8-K filing with the Securities and Exchange Commission, dated October 23, 2024, that the company’s Executive Vice President and Chief Financial Officer, Frank T. Connor, will be retiring from his position, effective February 28, 2025. Textron further revealed that David Rosenberg, currently serving as the Vice President – Investor Relations, will assume the role of Executive Vice President and Chief Financial Officer, succeeding Mr. Connor, effective March 1, 2025.

Mr. Rosenberg, aged 48, has over 24 years of experience in the aviation industry. Before his current position, he served as the Senior Vice President & Chief Financial Officer of Textron Aviation from 2018 to 2023. Additionally, Mr. Rosenberg played a pivotal role following Textron’s acquisition of Beechcraft in 2014, overseeing the merger and integration of Beechcraft and Textron’s Cessna Aircraft business, forming today’s Textron Aviation segment.

Under a letter agreement with Textron, Mr. Rosenberg is slated to receive an annual base salary of $850,000 for his upcoming role as Executive Vice President and Chief Financial Officer, effective March 1, 2025. He will also be entitled to a target annual incentive compensation of 100% of his base salary and participation in the Company’s long-term incentive compensation program for executive officers, with a target award of 250% of his base salary, alongside benefits akin to those offered to other key executives at Textron.

Textron included an exhibit with the Form 8-K, featuring a press release detailing the leadership changes. The press release underscores Textron’s gratitude for Mr. Connor’s leadership and acknowledges Mr. Rosenberg’s extensive experience and strategic contributions to the company.

Textron’s Chairman and CEO, Scott Donnelly, conveyed appreciation for Mr. Connor’s 15-year tenure and welcomed Mr. Rosenberg as the new CFO, emphasizing his financial acumen and operational insight. As part of Textron’s long-term succession planning, Scott Hegstrom, the current Vice President of Strategy and Mergers & Acquisitions, will be appointed Vice President of Investor Relations effective March 1, 2025.

Textron Inc., a diversified company with interests in aircraft, defense, industrial, and finance sectors, operates through a network of global businesses known for brands such as Bell, Cessna, Beechcraft, and Arctic Cat.

For further information, you can access Textron’s press release attached to the exhibit in the Form 8-K filing.

This article was generated by an automated content engine and was reviewed by a human editor prior to publication. For additional information, read Textron’s 8K filing here.

Textron Company Profile

Textron Inc operates in the aircraft, defense, industrial, and finance businesses worldwide. It operates through six segments: Textron Aviation, Bell, Textron Systems, Industrial, Textron eAviation, and Finance. The Textron Aviation segment manufactures, sells, and services business jets, turboprop and piston engine aircraft, and military trainer and defense aircraft; and offers maintenance, inspection, and repair services, as well as sells commercial parts.