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Boeing Chief Boinked a Female Exec

NEW YORK – Boeing Co. on Monday said it ousted Chief Executive Harry Stonecipher, after a probe into a personal relationship he had with a female executive at the aircraft maker.

The CEO’s ouster is just the latest scandal at the aircraft maker. Chief Financial Officer James Bell was named president and CEO on an interim basis, Boeing said.

The board, which Boeing said “asked for and received” Stonecipher’s resignation, took action following an investigation into “a personal relationship between Stonecipher and a female executive of the company who did not report directly to him,” the company said.

Stonecipher, 69, who took the helm at Boeing in December 2003 in a bid to put a series of defense procurement scandals behind the company, had been credited with a more aggressive marketing approach that had seen a revival in orders at the Chicago-based company. The company also said Chairman Lew Platt would assume an expanded role at the top U.S. aircraft maker.

“The board concluded that the facts reflected poorly on Harry’s judgment and would impair his ability to lead the company,” Platt said in a statement.

The company said that the unnamed female executive did not report directly to Stonecipher, but said the board decided “his actions were inconsistent with Boeing’s Code of Conduct.”

Stonecipher will also leave the company’s board.

Shares of Boeing fell to $57.96 in premarket trade on the INET electronic network, down from a close of $58.38 on Friday on the New York Stock Exchange.



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