Projo Biz Blog

Textron Inc. (TXT: NYSE) this morning said it had promoted its chief operating officer to president, just six months after he joined the Providence-based company.

Scott C. Donnelly will take on the joint roles of president and chief operating officer, managing the company's far-flung manufacturing operations, information technology, engineering, supply and efficiency efforts.

"Since his arrival six months ago, Scott has proven to be an extremely talented executive with tremendous vision and operating acuity," Lewis B. Campbell, Textron's chairman and chief executive officer, said.

Campbell is giving up the title of president as a result of the move, but that does not mean the company has lost its faith in him, according to a company spokeswoman.

Asked whether the change meant Campbell had lost influence at the company, the spokeswoman, Karen Gordon, said: "No, not at all."

Textron has been buffeted by turbulent economic headwinds in the last year that drove down its stock price 83 percent. Company executives have insisted there is no plan to break up the conglomerate.

Last June, the 47-year-old Donnelly left a two-decade career at General Electric to help Textron right itself.

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