Boeing FD steps into CEO breach

Boeing, the giant US aerospace group, is to be temporarily headed by its finance director after the resignation of CEO Harry Stonecipher following revalations of an extra-marital affair.

Link: New CFO gets his wings at Boeing

James Bell, who was only made FD in January, will act as interim CEO, although he is not expected to be considered for the top job on a full-time basis, according to the Financial Times.

Bell has a bachelors in accounting from California State University and held various senior auditing and finance positions at Rockwell, before joining Boeing in 1996 when Rockwell was acquired by the aerospace manufacturer.

Stonecipher said of Bell at the time of his appointment: ‘He is a proven, highly skilled manager who has intimate knowledge of our strategy, and champions fiscal transparency.’

Stonecipher resigned his post after an affair with a female executive at the company became public.

Boeing had introduced strict behaviour guidelines after a string of scandals at the company.

Former finance director Mike Sears, received a four-month jail term following a scandal over the recruitment of former Pentagon official Darleen Druyun. Druyun herself received a nine-month sentence. Another former chief exec, Phil Condit, was also forced to resign in an unrelated issue.

Related reading