Leadership Changes at Boeing Should Include McNerny
Two key commercial airliner projects at Boeing Co. (NYSE: BA) today got new leaders. Development of the 777X project has been handed to Bob Feldman who previously led development of the 737 MAX. The 737 MAX program has been assigned to Keith Leverkuhn who had been in charge of the propulsion systems (engines) division. The engines division's new chief will be Nicole Piasecki.
While these are all important projects for Boeing's future, the company's current issue with the 787's electrical system needs immediate attention. CEO Jim McNerny has presided over the company and the 787 since 2005, with not a lot to show for his tenure but long delays, big cost overruns, and a buggy airplane.
We suggested earlier this week that Ford Motor Co. (NYSE: F) CEO Alan Mullaly, formerly the head of Boeing's commercial aircraft division, should be on the speed dial of Kenneth Duberstein, the chairman of the company's governance, organization, and nominating committee. Mullaly is due to retire from Ford in less than two years and Boeing could use his turnaround talents and familiarity with Boeing's products to get the company back on track.
Boeing's shares are trading up about 0.2% today at $81.19 in a 52-week range of $66.82 to $81.95.
Filed under: 24/7 Wall St. Wire, Aerospace, Aerospace & Defense, Corporate Governance, Management Change Tagged: BA, F