Textron Inc. (TXT) named General Electric Co. (GE) executive Scott C. Donnelly as chief operating officer to oversee its manufacturing units.
Meanwhile, GE named David Joyce to replace Donnelly as president and chief executive of GE Aviation, its jet engine and mechanical systems maker.
Donnelly, 46 years old, had held the top job at GE Aviation since July 2005 and was previously senior vice president and director of GE Global Research.
"Scott brings extensive experience and a track record of success in leading complex, diverse, global businesses," Textron Chief Executive Lewis B. Campbell said. "Further, his experience in lean manufacturing, global sourcing, innovation and technology management are aligned with Textron's growth strategies."
Textron - a multi-industry company with operations in the aircraft, industrial-product and finance sectors - said Donnelly will also oversee the company's information technology, engineering and global sourcing functions.
Joyce, 51, has been with GE's aviation business for 28 years and has served as vice president of commercial engines since 2003.
"David has broad experience across the business, from engineering and product design to customer service, giving him keen insight into how to continue Aviation's global growth," General Electric Chief Executive Jeff Immelt said.
Shares of GE traded recently up 1.3% at $26.61, while Textron rose 4 cents to $47.97.
http://money.cnn.com/news/newsfeeds/articles/djf500/200806301246DOWJONESDJONLINE000420_FORTUNE5.htm
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