Lewis B. Campbell
Encyclopedia
Lewis B. Campbell is the former CEO of Textron
. He received a BSE
from Duke University
in 1968.
Beginning in 2000, Campbell engineered a transformation of the company that included a company-wide restructuring program to increase efficiency of operations; the consolidation of several manufacturing facilities; outsourcing of non-core production; and careful attention to product development across the company to determine whether each was appropriate for the portfolio
; divestiture of non-core units. This set Textron down a new path, focusing on operational excellence and management of strong portfolio brands.
The application of Six Sigma
principles, not only to Textron’s manufacturing operations, but also to the company’s transactional processes and other enterprise-wide functions, provided a consistent approach to operational efficiency.
In the midst of some of the company’s most difficult changes, shareholders watched Textron’s stock price fall to a disappointing $26 in March 2003, then climb back to an all-time high in the first half of 2006 as the benefits of the transformation finally took hold.
Under the new model, Textron today functions as what it calls a “networked enterprise.” Departing from the old model of a holding company that simply acquires businesses and leaves their operations unchanged, the networked enterprise provides key points of contact to facilitate the operation of strong, unique brands. This means that while Bell Helicopter and E-Z-GO serve very different markets with distinct brands and customer bases, they share many of the same business infrastructure resources such as information technology
infrastructure and employee benefit
s.
While CEO of Textron in 2008, Lewis B. Campbell earned a total compensation of $9,833,127, which included a base salary of $1,100,000, a cash bonus of $617,980, stocks granted of $5,314,507, and options granted of $2,149,798.
On December 1, 2009, Campbell retired as CEO of Textron as part of a multi-year succession plan. He was succeeded as CEO by Scott C. Donnelly
. Donnelly was named chairman of the board on September 1, 2010.
Textron
Textron is a conglomerate that includes Bell Helicopter, E-Z-GO, Cessna Aircraft Company, and Greenlee, among others. It was founded by Royal Little in 1923 as the Special Yarns Company, and is headquartered at the Textron Tower in Providence, Rhode Island, United States.With total revenues of...
. He received a BSE
Bachelor of Science
A Bachelor of Science is an undergraduate academic degree awarded for completed courses that generally last three to five years .-Australia:In Australia, the BSc is a 3 year degree, offered from 1st year on...
from Duke University
Duke University
Duke University is a private research university located in Durham, North Carolina, United States. Founded by Methodists and Quakers in the present day town of Trinity in 1838, the school moved to Durham in 1892. In 1924, tobacco industrialist James B...
in 1968.
Campbell’s Transformation of Textron
In 1998, Campbell was appointed chief executive officer. Campbell believed in the “core business” model, and divested from Avco Financial Services. With this complete, Campbell began development of a new strategic framework for Textron aimed at creating new operational efficiencies and sharing best practices across the whole organization.Beginning in 2000, Campbell engineered a transformation of the company that included a company-wide restructuring program to increase efficiency of operations; the consolidation of several manufacturing facilities; outsourcing of non-core production; and careful attention to product development across the company to determine whether each was appropriate for the portfolio
Project Portfolio Management
Project portfolio management is a term used by project managers and project management organizations, , to describe methods for analyzing and collectively managing a group of current or proposed projects based on numerous key characteristics...
; divestiture of non-core units. This set Textron down a new path, focusing on operational excellence and management of strong portfolio brands.
The application of Six Sigma
Six Sigma
Six Sigma is a business management strategy originally developed by Motorola, USA in 1986. , it is widely used in many sectors of industry.Six Sigma seeks to improve the quality of process outputs by identifying and removing the causes of defects and minimizing variability in manufacturing and...
principles, not only to Textron’s manufacturing operations, but also to the company’s transactional processes and other enterprise-wide functions, provided a consistent approach to operational efficiency.
In the midst of some of the company’s most difficult changes, shareholders watched Textron’s stock price fall to a disappointing $26 in March 2003, then climb back to an all-time high in the first half of 2006 as the benefits of the transformation finally took hold.
Under the new model, Textron today functions as what it calls a “networked enterprise.” Departing from the old model of a holding company that simply acquires businesses and leaves their operations unchanged, the networked enterprise provides key points of contact to facilitate the operation of strong, unique brands. This means that while Bell Helicopter and E-Z-GO serve very different markets with distinct brands and customer bases, they share many of the same business infrastructure resources such as information technology
Information technology
Information technology is the acquisition, processing, storage and dissemination of vocal, pictorial, textual and numerical information by a microelectronics-based combination of computing and telecommunications...
infrastructure and employee benefit
Employee benefit
Employee benefits and benefits in kind are various non-wage compensations provided to employees in addition to their normal wages or salaries...
s.
While CEO of Textron in 2008, Lewis B. Campbell earned a total compensation of $9,833,127, which included a base salary of $1,100,000, a cash bonus of $617,980, stocks granted of $5,314,507, and options granted of $2,149,798.
On December 1, 2009, Campbell retired as CEO of Textron as part of a multi-year succession plan. He was succeeded as CEO by Scott C. Donnelly
Scott C. Donnelly
Scott C. Donnelly is the CEO of Textron. Before joining Textron, Donnelly was the CEO for General Electric Aviation, a producer of jet engines for commercial and military aircraft...
. Donnelly was named chairman of the board on September 1, 2010.