Boeing Head Condit Steps Down

Boeing [NYSE: BA] announced Monday that its board of directors has accepted the resignation of Phil Condit, 62, as chairman and CEO. The aerospace giant named Lewis E. Platt, 62, as non-executive chairman and Harry C. Stonecipher, 67, as president and CEO, effective immediately.

Platt has been a member of Boeing’s board of directors for four years; he is a retired chairman of the board, president and CEO of Hewlett-Packard [NYSE: HPQ]. Stonecipher retired from Boeing in 2002 after working with Condit for five years in several roles, including vice chairman, president and chief operating officer. Stonecipher also has served as a Boeing director for six years.