After Jack Pelton was mentioned in a CBS' 60 Minutes piece a few weeks ago as having college degrees from a bogus diploma mill, the industry gossip suggested that his days at Cessna were numbered.

Apparently not.

We were leaked some internal correspondence that sure suggests that all is forgiven in Pelton-land and that the shadow of Russ Meyer is finally dissipating somewhat leaving Pelton to remake Cessna in his own fashion. Read the following to see what we mean...

The following message was distributed on behalf of Lewis Campbell, Chairman, President & CEO, Textron, Inc.

Dear Cessna Employees:

After 30 years of distinguished leadership at Cessna, Russ Meyer has elected to retire as Chairman. In turn, effective today, Jack Pelton will assume the title of Chairman in addition to President and Chief Executive Officer.

As Chairman for three decades, Russ built Cessna into a highly respected and admired worldwide market leader while helping to shape the general aviation industry into what it is today. His contributions have been recognized internally and externally. Russ has received numerous aviation awards, including the most prestigious individual honor in aviation, the Wright Brothers Memorial Trophy. Russ made history when he and Cessna became the first individual and company in general aviation to receive the Robert J. Collier trophy for excellence in aviation in 1986. As you know, Cessna received the trophy for a second time in 1997.

Russ joined Cessna in 1974 after serving as Grumman American Aviation's president and CEO, a position he had held since 1966. Prior to that he was an attorney. He also served as a jet fighter pilot with the U.S. Air Force and U.S. Marine Air Corps.

Russ' entire life's work has centered on his love of flying and his commitment to the industry. It is a passion that has helped him achieve unprecedented levels of success and influence in business, and will undoubtedly continue to bring him much pleasure for many years.

I have known and worked with Russ since I arrived at Textron 12 years ago, and would like to publicly recognize and thank him for his tremendous contribution to not only Cessna but to the entire corporation.

Although Russ is retiring as Chairman, I am very pleased that he will continue to be involved in a number of specific activities, including his participation as a member of the FAA's Management Advisory Council.
We also value his continuing advice and support.

Finally, I would like to also thank Russ for his tireless efforts and unqualified support in making his successor's transition period so successful. With Jack Pelton firmly at the helm, I am confident Cessna will continue its tradition of distinguished market and industry leadership.
Please join me in congratulating Jack as Cessna's new Chairman.

Lewis Campbell, Chairman, President & CEO
Textron, Inc.

2005 is going to be a VERY interesting year.

FMI: www.cessna.com, www.textron.com