Item 5.02 Departure of Directors or Certain Officers; Election of Directors;
Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.
On December 23, 2019, The Boeing Company ("Boeing") announced that its Board of
Directors (the "Board") elected David L. Calhoun to serve as President and Chief
Executive Officer effective January 13, 2020 and elected Lawrence W. Kellner to
serve as non-executive Chairman of the Board effective December 22, 2019. Mr.
Calhoun will remain a director of Boeing. Boeing also announced that, on
December 22, 2019, Dennis A. Muilenburg resigned as President and Chief
Executive Officer and as a director and that the Board elected Gregory D. Smith,
Boeing's Chief Financial Officer and Executive Vice President, Enterprise
Performance & Strategy, to serve also as interim Chief Executive Officer until
Mr. Calhoun's appointment is effective.
Mr. Calhoun, 62, has served as Chairman of The Boeing Company since October
2019. In addition, Mr. Calhoun has served as Senior Managing Director and Head
of Private Equity Portfolio Operations at The Blackstone Group since 2014. Mr.
Calhoun previously served as Chief Executive Officer of Nielsen Holdings plc
from May 2010 to January 2014 (and Chairman of the Board from January 2014 to
January 2016) and as Chairman of the Executive Board and Chief Executive Officer
of The Nielsen Company B.V. from August 2006 to January 2014. Prior to joining
Nielsen, he served as Vice Chairman of General Electric Company and President
and Chief Executive Officer of GE Infrastructure. During his 26-year tenure at
GE, he ran multiple business units including GE Transportation, GE Aircraft
Engines, GE Employers Reinsurance Corporation, GE Lighting and GE Transportation
Systems. Mr. Calhoun serves on the boards of Caterpillar Inc. and Gates
Industrial Corporation plc.
Mr. Smith, 53, has served as Boeing's Chief Financial Officer and Executive Vice
President, Enterprise Performance and Strategy since February 2015. Mr. Smith
previously served as Executive Vice President, Chief Financial Officer from
February 2012 to February 2015; Vice President of Finance and Corporate
Controller from February 2010 to February 2012; and Vice President of Financial
Planning & Analysis from June 2008 to February 2010. Mr. Smith serves on the
board of Intel Corporation.
A copy of the Company's press release is filed as Exhibit 99.1 to this Current
Report on Form 8-K and incorporated herein by reference.
Item 9.01. Financial Statements and Exhibits.
(d) Exhibits.
Exhibit
Number Description
99.1 Press Release
104 Cover Page Interactive Data File (embedded within the Inline XBRL
104 document)
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