Boeing [NYSE: BA] today announced key organization and leadership changes aimed at driving greater cross-company integration and continuous improvement; aligning enterprise services to current business conditions while increasing value; streamlining senior leadership roles and responsibilities; and preparing now for the post-pandemic industry footprint. The changes are effective May 1 .
A newly formed group — Enterprise Operations, Finance & Strategy — will consolidate several important areas, bringing together teams responsible for manufacturing, supply chain and operations, finance, enterprise performance, strategy, enterprise services and administration. Led by Greg Smith , executive vice president, Enterprise Operations, and chief financial officer, this new global organization will embed operational excellence and consistent lean principles across Boeing and its supply chain, and restore production and supply chain health as Boeing and the broader aerospace industry recover from the COVID-19 pandemic.
Corporate Audit will join Smith's new group and continue to report directly to the Boeing Board of Directors Audit Committee as it does today, providing independent, objective assurance and advisory services to improve company operations.
Jenette Ramos , senior vice president of Manufacturing, Supply Chain & Operations, will bring 34 years of Boeing experience, leadership and operational skills to a special assignment in support of Smith and Boeing President and CEO David Calhoun .
The company also is combining its legal and core compliance programs, including global trade controls, ethics and business conduct, into a single organization led by Brett Gerry , chief legal officer and executive vice president of Global Compliance. This approach will enhance Boeing's already strong compliance and internal governance program through focused accountability for, and a more integrated approach to, Boeing compliance responsibilities. It also will help the company proactively address new legal and compliance obligations arising from an increasingly complex global regulatory environment.
To accelerate this important work and to build on the existing strength of its compliance and ethics program, Boeing soon will name a chief compliance officer who will be responsible for leading the company's compliance, ethics and trade control activities. This person will report to Gerry, with a direct reporting line to Calhoun and the board's Audit Committee on compliance and ethics issues.
Finally, Boeing Government Operations, led by Executive Vice President Tim Keating , will assume responsibility for the company's Global Spectrum Management activities, which ensure the safe, efficient and compliant use of radio frequency spectrum in Boeing products and operations.
"I am confident these changes will drive greater alignment among our functions; better equip our commercial, defense and space, and services businesses to deliver on customer commitments in a changing marketplace; and support our continuous efforts to develop talent through challenging leadership assignments," said Calhoun. "Special thanks to Greg, Brett, Tim and Jenette for taking on new leadership responsibilities."
Coinciding with these organization changes, Diana Sands , senior vice president of the Office of Internal Governance and Administration, has decided to retire from Boeing later this year after nearly 20 years with the company and following a thorough transition of responsibilities.
"Over the past two decades, Diana has played a key role in developing an industry-leading ethics and compliance program, served in several critical finance roles and been a strong advocate for advancing diversity and inclusion across the company," said Calhoun. "The Boeing Board of Directors and I are deeply grateful for Diana's leadership, integrity and dedicated service."
Boeing is the world's largest aerospace company and leading provider of commercial airplanes, defense, space and security systems, and global services. As a top U.S. exporter, the company supports commercial and government customers in more than 150 countries. Boeing employs more than 160,000 people worldwide and leverages the talents of a global supplier base. Building on a legacy of aerospace leadership, Boeing continues to lead in technology and innovation, deliver for its customers and invest in its people and future growth.
Source: The Boeing Company (NYSE: BA)
Date: Apr 21, 2020