WASHINGTON - US aircraft manufacturer Boeing announced Monday the resignation of its president and CEO Harry Stonecipher, owing to a personal relationship with an upper-level employee, and his replacement on an interim basis by chief financial officer James Bell.
"The board actions were taken following an investigation by internal and external legal counsel of the facts and circumstances surrounding a personal relationship between Stonecipher and a female executive of the company who did not report directly to him," Boeing said in a statement.
Stonecipher took the helm of Boeing on December 1, 2003, replacing Phil Condit.
The statement added that Stonecipher had resigned Sunday at the request of Boeing's board of directors.
"The board determined that his actions were inconsistent with Boeing's code of conduct," the statement said.
"All changes are effective immediately."
03/07/2005 12:35 GMT