Textron Financial Promotes Ray Morandell to SVP, National Sales Manager of Commercial Finance Division

Lake Oswego, OR – August 20, 2007 ― Textron Financial Corporation, a subsidiary of Textron Inc. (NYSE: TXT) announced today that Ray Morandell has been promoted to lead its Commercial Finance Division’s sales team as senior vice president and national sales manager.  Morandell will be based in Lake Oswego, Oregon.

In his new role, Morandell is responsible for the division’s nationwide new business origination efforts and for executing ongoing divisional growth initiatives.  The promotion comes after Robert Wagner, former senior vice president and national sales manager, was named to lead the Commercial Finance Division as general manager.

“We have an exemplary sales organization that exhibits the ability to not merely complete a transaction, but to do so quickly and consistent to the original proposal,” said Wagner.  “During Ray’s 22 years in the commercial finance industry — the last seven with Textron Financial — he has established a reputation as a top performer with a strong sense of ethics.  He is the ideal person to continue our organizational transformation by taking a lead role in increasing the success of our sales efforts.”

Prior to his tenure with Textron Financial, Morandell served as a business development officer with GE Capital and has held a variety of roles in credit, management and business development with PNC Bank.  He also founded and managed an investment banking and corporate finance consulting practice.

Morandell holds a B.S. in Economics from Allegheny College, an M.S. in Finance from the University of Delaware, and a graduate degree in banking from the Stonier Graduate School of Banking.  He can be reached at (419) 885.2616.

About Textron Financial
Textron Financial is a diversified commercial finance company with $10 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.

About Textron
Textron Inc. is an $11 billion multi-industry company operating in 32 countries with approximately 40,000 employees.  The company leverages its global network of aircraft, 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.

 

Copyright © 2001-2008 - Textron Financial Corporation. All Rights Reserved.