Item 5.02 Departure of Directors or Certain Officers; Election of Directors;
Appointment of Certain Officers; Compensatory Arrangements of Certain Officers
On December 6, 2022, the Board of Directors of Textron Inc. ("Textron") elected
Thomas A. Kennedy as a member of the Board effective January 1, 2023. Mr.
Kennedy retired in June 2021 as the Executive Chairman of the Board of Directors
of Raytheon Technologies. Prior to serving as Executive Chairman, Mr. Kennedy
had been the Chairman and Chief Executive Officer of the Raytheon Company, a
corporation which generated approximately $29 billion in net sales and employed
approximately 70,000 people. Raytheon merged with United Technologies
Corporation in April 2020, creating Raytheon Technologies.
Kennedy joined Raytheon in 1983, holding various leadership roles over his more
than 38 years at the company, including senior executive management positions
within Raytheon's Unmanned and Reconnaissance Systems, Space and Airborne
Systems, and Integrated Defense Systems business units, and, prior to being
appointed Chairman and Chief Executive Officer, from 2013 through 2014,
Executive Vice President and Chief Operating Officer.
Mr. Kennedy will participate in Textron's Director Compensation Program as
described in Exhibit 10.16 to Textron's Annual Report on Form 10-K for the
fiscal year ended January 1, 2022, which is incorporated by reference herein, as
such Program may be revised from time to time. Textron and Mr. Kennedy also will
enter into Textron's standard Directors Indemnity Agreement, pursuant to which
Textron will, subject to certain limitations, indemnify Mr. Kennedy in
connection with any claim arising in connection with his service as a Textron
Director and will advance and pay his expenses incurred in connection with such
claims.
Mr. Kennedy will serve on the Board's Audit Committee and Organization and
Compensation Committee.
--------------------------------------------------------------------------------
© Edgar Online, source Glimpses
TEXTRON INC. 
