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Boeing Head Condit Steps Down

By | December 1, 2003

      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.

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