View Full Version : Phil Condit resigns.... (?)
chris@wda
1st Dec 2003, 20:52
apparently Phil condit has resigned from Boeing - this is rumour only!!! Anyone able to confirm???
747FOCAL
1st Dec 2003, 20:57
Condit resigns; Board names Platt, Stonecipher new leaders
Boeing's board of directors has accepted the resignation of Phil Condit as chairman and chief executive officer. After thorough deliberations the board decided a new company leadership structure is needed; it named Lewis E. Platt as non-executive chairman and Harry C. Stonecipher as president and CEO, effective immediately. Platt and Stonecipher are experienced leaders who are knowledgeable about the company's operations and strategy. Platt, a member of Boeing's board of directors for four years, is a retired chairman of the board, president and CEO of Hewlett-Packard Company. Stonecipher retired from Boeing in 2002 after having worked closely with Condit for five years in roles including vice chairman, president and chief operating officer. A message from Platt and Stonecipher, a My View from Condit, and a news release are available by clicking on the "i" links (from left respectively) below. The video icon links to a video clip of the three men discussing the leadership change.
The only thing bad about the news is who took over. Other than that HAPPY DAYS!!!!!!!!!!!!!!!!!!!!11 :} :} :} :} :E :E :ok: :ok:
Dave Gittins
1st Dec 2003, 21:08
Can't seem to find the links .............. :confused:
Ric Capucho
1st Dec 2003, 21:10
It's now reported on the Beeb, so it must be true.
And Mr Condit was doing such a marvellous job too: 747X blundering, Sonic-Cruiser sulking, loss of JSF contract, 'naughty spying' on Lockheed Martin, 'financial irregularities', fewer orders than Airybus, loss-making space division.
How will Boeing ever do without him, one wonders?
Ric
Bre901
1st Dec 2003, 21:13
PR on Boeing's web site
http://www.boeing.com/news/releases/2003/q4/nr_031201a.html
take a look down to the end of the page, in the "Forward-Looking Information Is Subject to Risk and Uncertainty" box, lots of tanker references ...
747FOCAL
1st Dec 2003, 21:29
Now get ready.......here comes the cancel order for the 7E7 and along with that any credibility that Boeing had left with the aviation community. Even somebody as dumb as Phil knows what that means and decided to jump. :mad: My 2 cents anyway :hmm:
Ric Capucho
1st Dec 2003, 22:09
Hard to know what to make of the 'Future uncertainty' panel, but I read it as a lawyer covering a nervous arses... more ill in the wind, one wonders? More dirt under the carpet?
Why the exit?
Well, one argument goes that CEOs get fired by the board just before some damaging news slips out. The other argument is that smart boards wait until all the bad news has been published (and gleefully pawed over) before firing the CEO.
Boeing doesn't seem to have a smart board.
Expect more bad news.
Ric
This was the guy who decided that Seattle was the wrong place to do business in. Funny, it worked for them for many years until he decided that. HQ is now somewhere in suburban Chicago.
Possibly the execs not driving down Interstate 5 each morning, and not seeing the Boeing Field flightline as they drove along there, made them lose touch with the business.
His replacement, Stonecipher, was CEO of McDonnell Douglas in its last years before merging with Boeing. MD-11 phasing out, MD-90, MD-95 (later Boeing 717). That's not much of a track record - many of these less than 10 years old aircraft are in the weeds in Arizona.
747FOCAL
2nd Dec 2003, 00:59
The inside skinny says that he was told to retire or get the sack. :\
PAXboy
2nd Dec 2003, 01:28
One contribution may be that they reckon it's best to change horses now, rather than wait to be told - if the refuelling issue does go badly for them.
747FOCAL
2nd Dec 2003, 01:48
I was told it was Phil's push for the 7E7 that alienated him from the board and allowed Harry to push him out. :yuk: Harry, besides the governor, is by far the most unethical person that aviation has ever seen. :*
davethelimey
2nd Dec 2003, 19:56
WHBM:
If by "somewhere in suburban Chicago" you mean "smack in the middle, on the riverfront, within stones' throw of Sear's Tower", you are quite correct. ;)
Perhaps Phil can team up with Jim Goodwin (former CEO, UAL) and do some consulting....
Heard the first use of the term "Tankergate" last night on NPR.
car_owner
3rd Dec 2003, 06:00
Condit resigns ... so what ???? You can resign from your position anytime you want.:confused:
Ric Capucho
3rd Dec 2003, 13:48
Yep, $18 billion tanker deal frozen for now...
http://news.bbc.co.uk/1/hi/business/3258116.stm
Oh it gets soooo tiring being right all the time. :-)
Ric
747FOCAL
3rd Dec 2003, 20:59
It really makes no difference. The US govt will not buy 18 billion worth of Airbus tankers, it just won't happen. :=
Ric Capucho
3rd Dec 2003, 21:10
Nope, but there's now a bloody good chance the UK Government will.
Ric
747FOCAL
3rd Dec 2003, 21:23
Since them 767s from BA that they want to use are RR powered I'd say that is a pretty good chance. :E
Lu Zuckerman
3rd Dec 2003, 22:52
If the UK buys Airbus tankers which model will they buy? Hopefully it is not the A-310.
:E :E
Flight Safety
3rd Dec 2003, 23:50
I also noticed this is the "Forward Looking Information" fine print:
production rate increases and decreases (including any reduction in or termination of an aircraft product, including the 717, 757 and 767 models),
broadreach
4th Dec 2003, 00:24
Re the "Forward Looking Information" box. It says something sombre about our litigious society when the disclaimers and list of your contingent liabilities is longer than any press release.
sphealey
4th Dec 2003, 01:47
It really makes no difference. The US govt will not buy 18 billion worth of Airbus tankers, it just won't happen
I am a US citizen who thinks that (a) we really need at least 100 new tankers (b) the US Government should take jobs and industrial policy into account when placing military orders.
Nonetheless, I also think that the next few tanker orders should be split (say) 75:25 Boeing/Airbus. Why?
[LIST=1]Keep competitive pricing and technology pressure on Boeing
Help reduce US/EU tensions on industrial policy, subsidies, and workshare
Over the next 20 years, an increasing percentage of our Reserve captains will be Bus drivers in their day jobs. To have them "train as they will fight", some Airbus tankers should be in the fleet.[/LIST=1]
Of course, my opinion plus 5 USD will buy you a cup of coffee at Starbucks.
sPh