The winds of change are blowing through Boeing's (IW 500/14) leadership ranks.

The aerospace company is promoting two executives to vice chairmen, naming a new company president and COO and is placing control of Boeing Defense, Space & Security and Boeing Military Aircraft in new hands. The changes will be effective Dec. 31.

"Through a concerted effort, we have developed a deep and highly effective executive team across all levels of Boeing," said Jim McNerney, Boeing chairman, president and CEO.

Dennis A. Muilenburg, who has worked for 28 years with Boeing and is currently a Boeing executive vice president and president and CEO of Boeing Defense, Space & Security, will assume the role of Boeing vice chairman, president and COO. He will relocate to the company's corporate offices in Chicago, where he will help McNerney manage business operations.

Christopher M. Chadwick will assume Muilenburg's role as Boeing executive vice president and president of CEO of Boeing Defense, Space & Security. Chadwick currently is president of Boeing Military Aircraft and has 31 years of Boeing aerospace experience.

Shelley K. Lavender, vice president and general manager of Integrated Logistics for the Global Services & Support business of Boeing Defense, Space & Security, will assume Chadwick's role as president of Boeing Military Aircraft. She started at Boeing in 1988 as an avionics engineer.

Raymond L. Connor, who started at the company 35 years ago as an airplane mechanic and leads Boeing Commercial Airplanes, will be promoted to Boeing vice chairman and president and CEO of Boeing Commercial Airlines – a business segment that generates more than 60% of Boeing's revenue.