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In the Marketplace
Textron Inc. of Providence, RI, has announced several finance management changes. Textron Financial Corporation (“TFC”) will now report directly to Textron President and Chief Operating Officer Scott C. Donnelly. TFC previously reported to Executive Vice President and Chief Financial Officer Ted R. French, who has left the company. French also had served as chairman and CEO of TFC. Textron's Senior Vice President and Controller Richard Yates has been named acting CFO until a permanent successor is named, which is expected in the near future. Warren R. Lyons has been named president and CEO of TFC and replaces Buell “Jay” Carter, president and chief operating officer of TFC, who is retiring after 19 years of service to the company. Lyons, most recently an independent financial services consultant, managed several segments of Textron's financial services units from 1985-1999. He was a member of the Textron Operating Committee and also served as the chairman and president of AVCO Financial Services, a major subsidiary of Textron that produced approximately 25% of Textron's revenues and profits at the time. When the decision was made to divest AVCO Financial Services in 1998, Lyons led the sales process resulting in a $2.9 billion after-tax gain to Textron.
The law firm of Goldberg Kohn in Chicago has named Jessica L. Debruin as a principal in the firm's Commercial Finance Group. She represents banks and other commercial lenders in documenting, negotiating, and performing due diligence
for asset-based and cash-flow loans. Additionally, DeBruin has worked on a wide range of credit facilities, private placement note offerings, securitizations, and leveraged leases on behalf of borrowers, issuers, lenders, equity investors, lessees, and lessors.
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