Condit resigns as Boeing chairman-CEO

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Chicago--Engaging in the hardball tactics of crisis marketing communications in response to a simmering scandal, the Boeing Co. announced Monday that Phil Condit, 62, has resigned as chairman-CEO.

Condit's resignation follows last week's termination of Mike Sears, Boeing exec VP-CFO, and Darleen Druyun, VP-general manager of Boeing's missile defense systems unit, who were dismissed for improprieties in the hiring of Druyun, a former U.S. government official.

In the wake of Condit's resignation, the company's board named Lewis E. Platt, 62, as non-executive chairman and Harry C. Stonecipher, 67, as president-CEO, effective immediately. Platt has been a member of Boeing's board of directors for four years; he is a retired chairman-president-CEO of Hewlett-Packard Co. Stonecipher retired from Boeing in 2002 after serving as COO.

"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 in a statement.

--Sean Callahan

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