(Source: Fort Worth Star-Telegram (Fort Worth, Texas))

By Scott Nishimura, Fort Worth Star-Telegram, Texas
Jul. 29--Textron Inc. on Tuesday named John Garrison Jr. -- head of the company's industrial unit -- to be Bell Helicopter's new chief executive.
Garrison will replace Richard "Dick" Millman, who Textron said is retiring effective Saturday after 43 years with the company.
Garrison, who joined Textron in 2002, will become the fifth chief executive in eight years at Fort Worth-based Bell. He served as president of Textron's industrial segment since November 2007, where Textron said he led operating improvements and new product introductions in the EZ-GO golf cart, Jacobsen turf maintenance equipment, Greenlee tools, and Kautex fuel systems and components businesses.
Garrison also held senior management posts at Azurix Corp. and Case Corp. He was a 10-year U.S. Army Airborne Ranger, is a graduate of West Point and holds a Harvard University MBA.
"John is a seasoned executive and a proven strategic leader with vast experience in managing manufacturing businesses, serving global customers and bringing products to market," Scott Donnelly, Textron's president and chief operating officer, said in release.
"Along with his military experience, this makes John the perfect leader to continue Bell's legacy of supporting both our commercial customers and military war-fighters around the globe at a time of significant growth opportunities for Bell," Donnelly said.
Millman has been Bell's CEO since early 2007, when he moved from Textron Systems. He replaced Michael Redenbaugh, who resigned as Bell continued to have problems delivering new helicopters on schedule and budget.
"Dick Millman's ... contributions -- most recently at Bell Helicopter in leading the company through successful labor negotiations, and earlier in his career in growing Textron Systems into one of Textron's most valuable businesses -- have been outstanding," Donnelly said. "We are grateful for his many years of service to the corporation and wish him well in his retirement."
Striking Bell manufacturing workers returned to work Monday after six weeks on the picket line, ratifying a contract that most workers agreed was less attractive than one they rejected June 14.
For the most recent quarter, which Textron reported Tuesday, Bell had a $72 million profit, up $4 million from the same period the prior year, "primarily due to improved performance," Textron said.
Bell had $670 million in sales, compared with $698 million in last year's quarter. Textron attributed the drop to "an unfavorable commercial product mix" and last year's government cancellation of the Armed Reconnaissance Helicopter program.
Backlog fell to $5.9 billion in the latest quarter, down $231 million from the end of the previous quarter. For the year's first six months, which ended July 4, Bell had $141 million in profit, compared with $121 million a year ago. Sales rose to $1.4 billion from $1.27 billion.
Textron's first-quarter revenue was $2.6 billion, down from $3.68 billion the prior year. Textron attributed the decline to a big drop-off in sales of Cessna jets and less business at the industrial unit. Cessna's sales dropped to $871 million from $1.5 billion. Industrial sales dropped to $508 million from $841 million.
Textron reported a $58 million loss, compared to a $258 million profit the prior year. The loss included a $129 million one-time charge from Textron's ongoing restructuring.
Scott Nishimura, 817-390-7808
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