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Boeing Names New CEO; McNerney Remains Board Chairman

Newly named CEO Dennis Muilenburg joined the company as an intern in 1985.

NEW YORK -- Boeing Co. (IW 500/13) named Dennis Muilenburg, a 30-year company veteran, as chief executive on Tuesday as the U.S. aerospace giant prepares for the retirement of current CEO James McNerney.

The Boeing board of directors elected Muilenburg, 51, who has served as Boeing president and chief operation officer since 2013, to become the company's 10th CEO, starting on July 1.

McNerney, 65, who has headed the company for the past 10 years, will stay on as the chairman of the board of directors, helping ensure the smooth transfer of CEO responsibilities to Muilenburg.

Muilenburg keeps his position as president, and has been elected to the board.

Dennis Muilenburg

"Dennis is an extremely capable, experienced and respected leader with an immense passion for our company, our people, and our products and services," McNerney said in the statement.

"As CEO, Dennis will bring a rich combination of management skills, customer focus, business and engineering acumen, a can-do spirit and the will to win. With a deep appreciation of our past accomplishments, and the energy and skill to drive those to come, he is well-suited to lead our very talented Boeing team into its second century," McNerney said.

Under his current responsibilities, Muilenburg shared with McNerney oversight of day-to-day business operations. Prior to that he served as president and CEO of Boeing Defense Space & Security.

Muilenburg joined the company as an intern in 1985. He earned a bachelor's degree in aerospace engineering from Iowa State University and a master's in aeronautics and astronautics from the University of Washington.

Copyright Agence France-Presse, 2015

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