NEWS > Business
Boeing CEO Stonecipher fired in disgrace
2005-03-08 05:23:39 XinhuaEnglish

í@WASHINGTON, March 7(Xinhuanet)-- Boeing Co. announced on Monday that its board forced out president and chief executive officer Harry Stonecipher because of a relationship he had with a female executive at the company.

The unexpected ouster makes Stonecipher the second consecutive CEO to depart the Boeing Co. in disgrace. His predecessor, Phil Condit, resigned on December 1, 2003, as a result of the defense contracting scandals that ultimately sent two of the Boeing's executives to jail.

Chief financial officer of the company James A. Bell was named president and CEO on an interim basis.

Stonecipher, 68, spent just 15 months in the top job of Boeing,the largest airplane-maker in the United States.

Boeing said an internal investigation prompted by information sent anonymously to chairman Lew Platt and the company's legal andethics leaders 10 days ago revealed a"consensual" relationship between Stonecipher and the female executive that the board determined was in violation of the company's code of conduct. However, spokesman of the company declined to provide further details.

The company also said that the resignation of Stonecipher was in no way related to the company's operational performance or financial condition, both of which remain strong.

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