Boeing chief announces resignation

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Last updated at: (Beijing Time) Tuesday, December 02, 2003

Boeing chief announces resignation

Boeing Co. Chairman and chief executive Phil Condit resigned in a surprise announcement on Monday.

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Boeing Co. Chairman and chief executive Phil Condit resigned in a surprise announcement on Monday.

"Boeing is advancing on several of the most important programs in its history and I offered my resignation as a way to put the distractions and controversies of the past year behind us, and to place the focus on our performance," Condit said.

Condit resigned in the wake of the event that two executives was fired unexpectedly last week.

Boeing has sacked its chief financial officer, Mike Sears, for unethical conduct, saying he was discussing the potential employment of an Air Force missile defense expert while she was negotiating contracts with Boeing on behalf of the Pentagon.

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