Boeing moves Stonecipher into co-chairman position

Herald staff

Former McDonnell-Douglas chief executive Harry Stonecipher on Monday was named co-chairman of the Boeing Co.

He was previously Boeing’s president and chief operating officer.

Boeing’s executive leadership group will continue to report to both Stonecipher and Chairman Phil Condit, spokeswoman Amanda Landers said.

Stonecipher is still scheduled to retire in May 2002, Landers said. Boeing traditionally has had a mandatory retirement age of 65 for its top executives. The Boeing board of directors, which approved Stoncipher’s new assignment, recently voted to grant him a one-year extension.

The move is part of Boeing’s corporate reorganization, Condit said. Like the rest of the corporate headquarters group, Stonecipher will be less focused on day-to-day operations while spending more time on strategic decisions.

The new corporate structure is similar to a model established by General Electric, where Stonecipher worked from 1960 to 1987. When he left GE, he was the head of its aircraft engine business and on the board of directors of GE Financial Services.

After GE, Stonecipher spent 7 1/2years with Sundstrand, an aerospace and industrial technology company, where he rose to become president, chairman and chief executive officer. He joined McDonnell Douglas as its president and CEO in 1994.