Textron has completed their acquisition of Beechcraft.
The long-time parent company of Cessna will now be the parent company of Beechcraft Corporation as well.
With the acquisition, Textron forms a new business segment called Textron Aviation, bringing together Cessna Beechcraft and Hawker brands.
Scott Ernest, who has served as Cessna’s president and CEO since 2011, will lead the Textron Aviation segment as CEO. A Textron official says that means Beechcraft CEO Bill Boisture will not be a part of the new company going forward.