New CEO for Boeing ?????

In the financial pages of my local (London) newspaper
I find that Boeing have appointed James McNerney as
their new CEO.
What intrigues me if the fact that the previous CEO a
Mr Stonecipher resigned in March following an affair with
a Mss Peaboby, a 48-year old divorcee. !!!

Can one of our US contributors explains to me why the CEO
of one of your largest industries felt that he had to resign?
Did his private life (was he married?) have any baring
on the running of Boeing?

Would aircraft buyers - throughout the world - stop buying
Boeings?

Do you think the CEO of Airbus Industries would have
resigned in a similar situation?

retired/uk.

"Retired" wrote:

Very old news. You can Google on the topic if you want to see the discussion.

Can one of our US contributors explains to me why the CEO
of one of your largest industries felt that he had to resign?
Did his private life (was he married?) have any baring
on the running of Boeing?

While the fact that a married man would cheat on his wife may call into question
the CEOs judgment, it wasn't the primary cause for his dismissal.

The Boeing board was extremely concerned that Boeing would be the subject of a
sexual harassment lawsuit. Despite protests to the contrary, any time a CEO has
a personal relationship with an employee, the argument that it was a consensual
relationship would be questioned by most US courts.

The fact that the CEO had previously issued a company wide proclamation that
even the slightest appearance of impropriety would not be tolerated put the nail
in the coffin.

In article ,
"Retired" wrote:



Can one of our US contributors explains to me why the CEO
of one of your largest industries felt that he had to resign?
Did his private life (was he married?) have any baring
on the running of Boeing?

He died by his own sword. Called for utmost integrity not only in work
life but personal life too.

Not the Karl Orff wrote:
He died by his own sword. Called for utmost integrity not only in work
life but personal life too.


The business about the mistress was just a convenient excuse. The real reason
was lack of Boeing Commercial product's performance.

You'll note that since his departure, Boeing has re-instated certain
departments which have been instrumental in getting the 787 off the ground and
win Boing lots of sales. (notably, the one which is in charge of finding ways
for customers to sell their older aircraft).

Repost

On a related note, the media reports McNerney's compensation may be
worth as much as $54 million over six years if he performs. I recalled
the reports when he was announced that Boeing stock immediately moved
7% on the news. At $65 a share and 840 million shares, he personally
moved the value of the company $3.8 billion.

Seems to me he already earned his pay.

James