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Cessna CEO Pelton Retires

The president and CEO of Cessna Aircraft Co. in Wichita has resigned after nearly 11 years with the company.

WICHITA, Kan. (AP) -- The president and CEO of Cessna Aircraft Co. in Wichita has resigned after nearly 11 years with the company.

Textron announced on Monday that 52-year-old Jack Pelton resigned, effective June 1.

Pelton joined the business-jet manufacturer in 2000 as a senior vice president and became president and CEO seven years ago.

The Wichita Eagle reports that Textron chairman and CEO Scott Donnelly will run Cessna until Pelton's successor is selected.

A Textron spokesman says Pelton's sudden departure is a "straightforward retirement" and was not related to disappointing financial reports for the company in recent months.
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