Textron
Inc., the maker of Bell helicopters and Cessna airplanes, hired
former Honeywell International Inc. executive Steven Loranger as
chief operating officer to oversee Textron’s plants.
Loranger, 50, spent 21 years at Honeywell and most recently
headed its engines, systems and services business. He replaces
John Janitz, who left Textron in September 2001, spokeswoman Susan
Bishop said.
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Textron last week said it would eliminate 2,000 jobs because
of slowing sales of fasteners and construction equipment. Third-
quarter revenue declined 7.1 percent to $2.6 billion.
Shares of Providence-based Textron fell 35
cents to $40.10 at 9:48 a.m. in New York Stock Exchange composite
trading. They had fallen 2.4 percent this year.
Bloomberg News
