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Posted 29 March, 2022

BOEING CO appointed Caret as new CEO

NYSE:BA appointed new Chief Executive Officer Caret in a 8-K filed on 29 March, 2022.


  In connection with Ms. Caret's retirement, Boeing's Board of Directors (the "Board") elected Theodore Colbert III, who currently serves as Executive Vice President, President and Chief Executive Officer of Boeing Global Services, to replace Ms. Caret as President and Chief Executive Officer, Boeing Defense, Space & Security as of the Effective Date.  

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Overview of BOEING CO
Industrial Goods • Aerospace Products/Parts
The Boeing Co. is an aerospace company, which engages in the manufacture of commercial jetliners and defense, space, and security systems. It operates through the following segments: Commercial Airplanes (BCA), Defense, Space and Security (BDS), Global Services (BGS), and Boeing Capital (BCC). The Commercial Airplanes segment includes the development, production, and market of commercial jet aircraft and provides fleet support services, principally to the commercial airline industry worldwide. The Defense, Space and Security segment refers to the research, development, production and modification of manned and unmanned military aircraft and weapons systems for global strike, including fighter and combat rotorcraft aircraft and missile systems, global mobility, including tanker, rotorcraft and tilt-rotor aircraft, and airborne surveillance and reconnaissance, including command and control, battle management and airborne anti-submarine aircraft. The Global Services segment provides services to commercial and defense customers. The Boeing Capital segment seeks to ensure that Boeing customers have the financing they need to buy and take delivery of their Boeing product and manages overall financing exposure. The company was founded by William Edward Boeing on July 15, 1916, and is headquartered in Arlington, VA.
Market Cap
$122B
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Relevant filing section
Item 5.02. Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.


On March 28, 2022, The Boeing Company ("Boeing") announced that Leanne G. Caret, Executive Vice President, President and Chief Executive Officer, Boeing Defense, Space & Security, will retire from Boeing later this year. Effective April 1, 2022 (the "Effective Date"), Ms. Caret will serve as Executive Vice President and Senior Advisor to the Chief Executive Officer. 


In connection with Ms. Caret's retirement, Boeing's Board of Directors (the "Board") elected Theodore Colbert III, who currently serves as Executive Vice President, President and Chief Executive Officer of Boeing Global Services, to replace Ms. Caret as President and Chief Executive Officer, Boeing Defense, Space & Security as of the Effective Date. Related to his new role, the Board approved an annual salary of $1,000,000 and an annual incentive target of $1,000,000 for Mr. Colbert. 


In addition, the Board elected Stephanie F. Pope to replace Mr. Colbert as Executive Vice President, President and Chief Executive Officer of Boeing Global Services as of the Effective Date. Ms. Pope will receive salary, bonus and equity awards, and will participate in other benefit and compensation plans, at levels consistent with her seniority and scope of responsibility.


A copy of Boeing's press release with respect to the foregoing is filed as Exhibit 99.1 to this Current Report on Form 8-K and incorporated herein by reference.