Textron Inc. (NYSE: TXT) announced that Lionel L. Nowell III has been elected to the company’s Board of Directors, effective January 1, 2020. Nowell is the retired Senior Vice President and Treasurer of PepsiCo, Inc., a worldwide food and beverage company, and has over 30 years of experience as a finance professional through operational and financial management roles he held at several multinational corporations.
Lionel L. Nowell III has been elected to Textron’s Board of Directors, effective January 1, 2020. (Photo: Business Wire)
“We are extremely fortunate to welcome Lionel Nowell to our Board,” said Textron Chairman and CEO Scott Donnelly. “Lionel’s broad financial expertise and extensive board level experience will be invaluable to Textron,” Donnelly added.
Nowell retired from PepsiCo in 2009 where he managed a global staff with responsibility for the company’s worldwide Treasury function, including debt and investments, capital markets strategies, foreign exchange, insurance, share repurchase and pension plan investments. He joined PepsiCo in 1999 as Senior Vice President and Corporate Controller, and from 2000-2001 served as the Executive Vice President and Chief Financial Officer of Pepsi Bottling Group, Inc. before being named Senior Vice President and Treasurer of PepsiCo in 2001, a role he held until his retirement.
Prior to PepsiCo, Nowell served as Senior Vice President, Strategy and Business Development at RJR Nabisco from 1998 to 1999 and from 1991 to 1998, he held various senior financial roles at the Pillsbury division of Diageo plc, including Chief Financial Officer of its Pillsbury North America, Pillsbury Foodservice and Häagen-Dazs businesses. Earlier in his career, he held finance roles at Pizza Hut, which at the time was a division of PepsiCo, and Owens Corning. He has a B.S.B.A. in Finance Accounting from Ohio State University and is a certified public accountant.
Nowell has been a member of the board of directors of American Electric Power Company since 2004 and of Bank of America Corporation since 2013. He was named to the board of Ecolab Inc. in 2018.