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Textron Announces New Exec Lineup

Diversified manufacturer has named Richard Yates as acting CFO and Warren Lyons as president and chief operation officer of Textron Financial Corp.

PROVIDENCE, R.I. (AP) -- Two executives of diversified manufacturer Textron Inc. have left the company, which announced Monday that Richard Yates, senior vice president and controller, has been appointed acting CFO.

He succeeds Ted French, executive vice president and CFO, who has left the company, Textron said.

Buell "Jay" Carter, president and chief operating officer of Textron Financial Corp., the company's finance business, is retiring after 19 years at the company. He has been succeeded by Warren R. Lyons.

Textron Financial Corp. will now report directly to Scott C. Donnelly, president and CEO.

The company's finance business, which provides financing for new and used Cessna business jets, golf courses, as well as to developers of vacation resorts, had previously reported to French.

Textron, which makes Cessna jets, Bell helicopters and E-Z-GO golf carts, is liquidating assets as it exits nearly all its commercial finance business.

Shares moved up 51 cents, or 7.5 percent, to 7.32 in afternoon trading.