Textron Inc. (NYSE: TXT) announced that Richard F. Ambrose has been elected to the company's Board of Directors, effective April 1, 2022. Ambrose will be retiring, effective March 1, 2022, as the Executive Vice President of Lockheed Martin Corporation’s Space business after over 20 years at Lockheed Martin, a global security and aerospace company.

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Richard F. Ambrose (Photo: Business Wire)

"We are extremely pleased to welcome Richard Ambrose to our Board," said Textron Chairman and CEO Scott Donnelly. "Richard’s extensive experience in the aerospace and defense industry and with U.S. Government defense programs will be invaluable to Textron," Donnelly added.

At Lockheed Martin Space, Ambrose managed a $12 billion enterprise which employs approximately 22,000 people and provides advanced technology systems for national security, civil and commercial customers. Prior to his most recent role, which he assumed in 2013, he served as President, Lockheed Martin Information Systems & Global Solutions-National from 2011-2012 and as Vice President & General Manager, Lockheed Martin Surveillance & Navigation Systems line of business within Space from 2006 through 2010. He joined Lockheed in 2000 as Vice President & General Manager, Lockheed Martin Ground Systems and served as President, Lockheed Martin Maritime Systems & Sensors Tactical Systems from 2004-2006.

Prior to Lockheed, Ambrose was President & General Manager, Space Systems, Hughes Information Systems (which merged with Raytheon C3I Systems in 1997) from 1995-2000. He has a Bachelor of Science in electrical engineering from DeVry Institute of Technology and an MBA from the University of Denver.

About Textron

Textron Inc. is a multi-industry company that leverages its global network of aircraft, defense, 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, Cessna, Beechcraft, Jacobsen, Kautex, Lycoming, E-Z-GO, Arctic Cat and Textron Systems. For more information visit: www.textron.com.

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