http://moneycentral.msn.com/content/CNBCTV/Articles/Dispatches/P67576.asp


Boeing ousts CEO Phil Condit
The aerospace giant accepts Condit’s resignation effective immediately. Roy
Disney is ousted from company’s board, and calls for CEO Michael Eisner to
join him.

Dow component Boeing (BA, news, msgs) surprised the market this morning,
ousting its chairman and CEO, Phil Condit, in a bid to get the aerospace
company back on track.

Boeing said former president Harry C. Stonecipher will become president and
CEO effectively immediately, while board member and former Hewlett-Packard
(HPQ, news, msgs) chief Lewis E. Platt will become non-executive chairman.

"The board appreciates that Phil acted with characteristic dignity and
selflessness in recognizing that his resignation was for the good of the
company," Platt said in a statement. "We accepted his decision with sadness,
but also with the knowledge that changes needed to be made. The board is
confident that the new leadership will bring a renewed focus on execution
and performance.”Money 2004.
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