FOR IMMEDIATE RELEASE
Textron Financial Names Angelo Butera Executive Vice President & Chief Credit Officer
Providence, RI – May 28, 2008 – Textron Financial Corporation, a Textron Inc. (NYSE: TXT) company, names Angelo Butera to the position of executive vice president and chief credit officer effective June 1, 2008. As chief credit officer, Butera will oversee ongoing portfolio quality management for all of Textron Financial. He succeeds Rod Weaver, who is retiring from this position after 31 years of service with Textron. Butera will report to President and Chief Operating Officer Jay Carter and serve as a member of the company’s Management Committee.
“Angelo brings a wealth of experience to our leading credit position,” said Carter. “His exceptional qualifications – in addition to his long history with the company and knowledge of the industries we serve – will help us navigate through today’s challenging credit environment and maintain our track record of low non-performing assets and delinquency and outstanding portfolio quality well into the future.”
Butera joined Textron Financial in 1987 as a credit analyst with the company’s former Real Estate Finance Division. Since that time, he has served in roles of increasing responsibility in the areas of underwriting, investment control, credit and operations, and risk management. Most recently, as senior vice president – credit and special assets for the company’s Resort Finance Division, Butera oversaw both the underwriting and workout functions for the division.
Butera earned a BS in industrial engineering from the University of Pittsburgh and received his MSIA from Carnegie Mellon University’s Tepper School of Business. He has also attended Textron’s Executive Leadership Program at the Thunderbird School of Global Management and the company’s Global Leadership Forum at the Wharton School of the University of Pennsylvania.
About Textron Financial
Textron Financial is a diversified commercial finance company with more than $11 billion in managed receivables. It has core businesses in Aviation Finance, Asset-Based Lending, Distribution Finance, Golf Finance, Resort Finance, and Structured Capital. Textron Financial also provides financing programs for products manufactured by its parent company, Textron Inc. Additional information about the company is available at www.textronfinancial.com.
Textron Inc. is a $13.2 billion multi-industry company operating in 34 countries with approximately 44,000 employees. The company leverages its global network of aircraft, defense and intelligence, industrial and finance businesses to provide customers with innovative solutions and services. Textron is known around the world for its powerful brands such as Bell Helicopter, Cessna Aircraft Company, Jacobsen, Kautex, Lycoming, E-Z-GO, Greenlee, Fluid & Power, Textron Systems and Textron Financial Corporation. More information is available at www.textron.com.