The Strategist

Boeing appoints Dennis Muilenburg as CEO

06/24/2015 - 03:41

Boeing appoints Dennis Muilenburg as CEO
American aerospace and aviation company Boeing has chosen Dennis Muilenburg as chief executive officer.
The new CEO, who was earlier the president as well as Chief Operating Officer of the organization since 2013, will take office from 1 July. Muilenburg was a long term employee of Boeing where he earlier headed Defense, Space and Security business. He succeeds Jim McNerney, who will retire by next year. McNerney has announced that he will continue as an employee at Boeing to ensure a smooth transition happens and will be the chairman of the company. Meanwhile, Ray Conner, the CEO of the commercial wing of Boeing, will continue in his position.
"We have high confidence in Dennis, who has distinguished his career by taking on tough challenges and delivering results," Kenneth Duberstein, a director on Boeing's board said in a released statement.
McNerney had almost doubled the revenue at Boeing in his tenure of ten years at the helm of the organization. He increased the profit margins substantially by getting the suppliers to reduce prices. He also strengthened the company’s engineering and manufacturing foray in countries other than the US. Boeing has also noted that the company will use McNerney’s expertise in engagement with Washington DC in the coming months, before he retires in February next year.