Corporate Controller Smith Elected To Replace Bell Effective
Feb. 1, 2012
Boeing Executive Vice President, Corporate President and Chief
Financial Officer James Bell (pictured) has announced plans to
retire from the company, effective April 1, 2012. Greg Smith, 45,
corporate controller and finance vice president, has been elected
by Boeing's board of directors to succeed Bell as executive vice
president and chief financial officer effective Feb. 1, 2012; the
two will work together over the coming months to ensure a smooth
transition. Diana Sands, 46, vice president of investor relations
and financial planning and analysis, has been appointed corporate
controller, also effective Feb. 1, 2012.
Boeing Chairman, President and CEO Jim McNerney said Bell will
leave a legacy of leadership in a career marked by exemplary
personal and professional accomplishment. "James Bell's service to
Boeing has been extraordinary in many ways over many years," said
McNerney. "As CFO he created a world-class finance organization and
a culture of continuous improvement. His disciplined approach
to financial management ensured our fiscal strength throughout his
tenure, and his personal commitment to developing leaders created a
strong, diverse team across our finance organization. As corporate
president, he instilled a focus on excellence and teamwork by
driving tighter integration across our businesses and
functions."
Bell, 63, has served as CFO since 2003 and was appointed
corporate president in 2008. He served as the company's interim CEO
for several months in 2005, immediately preceding McNerney. "James
has been an invaluable business partner to me and to our entire
leadership team. His passion, strength of character, and 40 years
of accomplishment will have a lasting impact on our company,"
McNerney said. He joined the company in 1972, at what was then
Rockwell International, as a staff accountant. Boeing acquired
Rockwell's aerospace business in 1996. His career spans a wide
spectrum of assignments and roles across Boeing. Prior to his CFO
role, he served as corporate controller. At the business operating
group level, he was vice president of contracts for Boeing's
defense and space businesses, and he also served in business
management roles for the International Space Station program.
Smith has more than two decades of aerospace industry
experience. Prior to being named corporate controller in February
2010, he led the company's financial planning and analysis and
internal audit groups, served as controller of the Boeing Shared
Services Group, and held various leadership and operational roles
in supplier management, factory operations and program management.
He led investor relations for Raytheon from 2004 to 2008. "Greg is
an extremely capable and seasoned industry leader with a uniquely
broad background in finance, manufacturing and supply chain
operations, and program management," McNerney said. "His insight
into how the business works from the ground level up is a
tremendous asset to have in a CFO."
Sands joined Boeing in 2001 from General Motors. She has led
investor relations and financial planning and analysis since
February 2010. She previously held key company positions in
corporate treasury and other finance areas. Prior to General
Motors, she worked in finance at Ameritech, Helene Curtis and
Arthur Andersen.
Bell plans to remain active in various civic, business and
philanthropic roles. He is a member of the board of directors of
Dow Chemical Company, the Chicago Urban League, World Business
Chicago and the Chicago Economic Club.