Boeing Announces New Leaders for Boeing International, Business Development and Strategy

Boeing Chairman, President and CEO Jim McNerney today named Shephard W. Hill president, Boeing International, replacing Laurette Koellner, who is retiring. At the same time, he named Michael J. Cave to replace Hill as senior vice president, Business Development and Strategy at Boeing Corporate Offices. Cave moves from Boeing Commercial Airplanes, where he led Business Strategy and Marketing.

The changes are effective November 1.

"Laurette did an excellent job developing our global team, advancing our global strategies and representing Boeing throughout the world," said McNerney. "Her contributions in many critical roles during a 30-year career have been significant, far reaching and will endure. Laurette's talent, hard work and dedication will be missed by her colleagues and by Boeing. We thank her and wish her well.

"Shep has worked closely with Laurette in developing integrated global strategies for growth and productivity, and he is uniquely qualified to build upon the progress Laurette and her team have made. Working closely with me over the past year, Shep has been instrumental in driving enterprise wide business strategies. His deep knowledge and understanding of all aspects of our business, combined with a strategic mindset and a results-oriented operating style, will ensure we remain focused on making Boeing a truly integrated global company," McNerney added.

Hill, 54, will continue as a member of the Boeing executive council, a position he has held since early 2006 when he was appointed to lead a new corporate-level strategic planning and business development group. In that position, he worked closely with Boeing's commercial and defense businesses to develop the company's overall strategic growth plans, including mergers and acquisitions as well as annual business plans. A 20-year company veteran, he has led both business development and government affairs functions. Prior to this corporate role, Hill led all business development activities for Boeing's Integrated Defense Systems. He will be based in the Washington, D.C. area.

Cave, 47, will join the company's executive council and be based in Chicago. He began his career with McDonnell Douglas in 1983 and has broad experience across both of the company's major business units, including assignments in finance, program management and marketing. At Commercial Airplanes he had been vice president and general manager of Airplane Programs, as well senior vice president for Commercial Aviation Services. He also served three years as chief financial officer. Prior to joining Commercial Airplanes, he was vice president, Finance, for Boeing's Information, Space & Defense Systems, a position he assumed following the merger of Boeing and McDonnell Douglas.

"Mike brings extensive experience on both the commercial and defense sides of our business. His knowledge of our customers and our markets, combined with his strategic planning skills and business acumen, will be important strengths in his new assignment," McNerney said.

Koellner's 30-year Boeing career has included business-unit leadership positions -she served for two years as president, Connexion by Boeing--as well as leading and managing several key company functions, including human resources and labor relations, and corporate philanthropy and social responsibility. She had been a member of the company's senior executive leadership team since 2001. Earlier, she served as corporate controller and was responsible for financial and cost accounting, cost policy, companywide cost estimating, common business systems, and insurance and risk management.

For further information:
John Dern
(312) 544-2002