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Friday, May 11, 2001, updated at 08:12(GMT+8)
World  

Boeing Chooses Chicago as New Headquarters

US aerospace giant Boeing Company announced Thursday it has chosen Chicago as its new headquarters in one of the most important strategic changes to its corporate architecture.

By September 4, the company plans to begin operations in its new headquarters at 100 North Riverside Plaza in Chicago, which beats Dallas-Fort Worth and Denver in the competition, the company said in a statement.

On March 21, Boeing stunned the city of Seattle, which currently hosts the company's headquarters, and corporate America by suddenly announcing its decision to move its headquarters out of the city that William Boeing founded the company 85 years ago.

Boeing said that the move is part of its reorganization to give more independence to its three core businesses - commercial airplanes in the Seattle area, military jets and missiles in St. Louis and space and communications business in Southern California.

"We're continuing to transform our company with a focus on long- term growth and value creation. Our new corporate architecture - with a leaner headquarter located separately from our major business units - is a fundamental element of our business strategy, " Boeing Chairman and CEO Phil Condit said.

The new headquarters staff, which is expected to include fewer than 500 people, will focus on developing global growth opportunities and creating shareholder value. The move will elevate leaders of its three largest business units to the status of Chief Executive Officer and gave them broader responsibilities for improving performance and achieving growth objectives, the company said.

On May 7, the company announced the promotion of Harry Stonecipher to the position of Vice Chairman, shifting his emphasis from the day-to-day running of the company to developing long-term growth strategies.







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US aerospace giant Boeing Company announced Thursday it has chosen Chicago as its new headquarters in one of the most important strategic changes to its corporate architecture.

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