Phil
Condit, the chief executive and chairman of US
aerospace giant Boeing, has resigned.
Mr Condit said he had offered his resignation in order "to
put the distractions and controversies of the past year behind us."
Boeing, the world's biggest airplane manufacturer, is struggling
to draw a line under a string of scandals.
The firm has admitted spying on rival Lockheed
Martin, and last week fired its finance boss for unethical
conduct.
Harry Stonecipher, the former head of McDonnell
Douglas, has taken over as Boeing chief executive, while
Lewis Platt, ex-boss of Hewlett Packard, has assumed the role of
chairman.
Espionage
The management shake-up follows
the surprise dismissal last week of Boeing finance chief Mike Sears,
seen as Mr Condit's most likely successor.
Mr Sears was fired after it emerged that he had negotiated the
recruitment of an air force procurement official while she was still
working at the Pentagon.
Mr Sears has denied all wrongdoing.
But the episode cast a fresh cloud over Boeing less than six months
after it transpired that the firm may have won
lucrative US air force contracts by illegally acquiring information
from arch-rival Lockheed Martin.
In July, the air force stripped Boeing of bn in contracts, and
reallocated them to Lockheed.
Mr Stonecipher stressed that Boeing's core businesses were in good
shape.
"We have the right strategy. The task before us is to execute,"
he said.
"Boeing is a great company with tremendous capabilities to
define the future in each of our markets."
New broom
Analysts said the management reshuffle
underlined Boeing's determination to clean up its image.
"Boeing is taking this whole corporate governance thing very
seriously," said Nick Fothergill at Banc of America Securities.
"They're proving to their prime customer - the government
- that they have really taken this in the most serious way possible
by firing the chief financial officer, and the chief executive officer
resigning."
Boeing has also been hit by a sharp downturn in sales as struggling
airlines cut back on new orders for passenger jets.
The firm is at risk of being overtaken by Europe's Airbus
as the world's biggest maker of commercial aircraft.
Boeing shares fell 1.8% to .70 in early trade on Wall Street.
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