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Textron chief Lewis Campbell to retire

Lewis Campbell, the chairman and CEO of Cessna’s parent company, Textron Inc., will retire Dec. 1. Textron president Scott Donnelly will assume his position, the company said Thursday.

Campbell, who is 63, will remain as a non-executive chairman of the board at least until the 2011 annual meeting of shareholders, it said. The change is the culmination of a multi-year succession planning process. Campbell has been with Textron 17 years, including 11 years as CEO.

Donnelly joined Textron is June 2008 as chief operating officer and was named president in January. He is the former president and CEO of General Electric’s aviation unit.