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AirBoeingBus
Join Date: Nov 2001
Location: Singapore
Posts: 4,587
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Boeing Selects Leaders for New Commercial Airplane Development
Program
SEATTLE, January 29, 2003 - The Boeing Company [NYSE: BA] today
named four executives to key leadership assignments on its new super-
efficient, mid-sized commercial airplane program, designated for
development as the Boeing 7E7.
Michael B. Bair, 46, is appointed senior vice president of the Boeing
7E7 program. Bair will lead all aspects of the development effort and
report directly to Boeing Commercial Airplanes President and Chief
Executive Officer Alan Mulally. Bair is a 24-year Boeing veteran who
most recently led the company's Commercial Aviation Services
business. He also played a key role in development of the Boeing 777
and has served in a variety of senior marketing and sales positions.
"Mike is one of our most experienced and effective leaders," Mulally
said. "He understands our customers' needs and has a strong
engineering and business background. He's absolutely the right choice
to lead our new airplane program."
The following senior executives will report to Bair:
Walter B. Gillette, 61, will be responsible for full development of
the airplane, including engineering, manufacturing and partner
alignment. Gillette led the company's development work on the
enabling technologies of the Sonic Cruiser, which form the foundation
of the new super-efficient airplane. In his 37 years with the
company, Gillette has worked on every new Boeing commercial jet.
John N. Feren, 47, will lead sales, marketing and in-service support.
Feren brings 25 years of commercial airplane sales, marketing and
program management experience to his new position. He most recently
served as vice president of sales for airlines of the Americas and
leasing companies worldwide.
Craig A. Saddler, 43, will lead finance and business operations. A 22-
year company veteran, Saddler has an extensive background in
financial operations, most recently serving as chief financial
officer of the company's Shared Services Group, president of Boeing
Travel Management Co., and interim president of Boeing Realty Corp.
"We are assembling the strongest leadership team possible to continue
our development work and bring this exciting new product to market,"
Mulally said. "Each of the leaders we've selected has the depth of
experience and skills to work together effectively with our customers
and global technology team to create the next great advance in
commercial aviation."
Additional appointments
Michael J. Cave, 42, will replace Bair as senior vice president of
Commercial Aviation Services, reporting to Mulally. Cave previously
was chief financial officer for Boeing Commercial Airplanes. During
his 20 years with the company, he has held a variety of senior
financial management assignments, including vice president of finance
for the business he will now lead.
"Mike has done an outstanding job as CFO and has a tremendous
understanding of the commercial aviation business," Mulally said. "He
has all the right skills and experience to lead our services business
to long-term, profitable growth through a focus on adding value to
our customers' operations."
Robert J. Pasterick, 47, is promoted to chief financial officer for
Commercial Airplanes, replacing Cave. Pasterick has 24 years of broad-
based Boeing experience and most recently served as Commercial
Airplanes' vice president of finance and controller. He will report
to Mulally with responsibility for overall financial management,
contracts, finance and business strategies, and information systems.
"Rob is a solid leader and expert in his field. He'll make a great
addition to our leadership team," Mulally said.
The Boeing 7E7 is being developed as a 200- to 250-seat airplane that
will fly between 7,000 and 8,000 nautical miles at speeds similar to
today's fastest twin-aisle commercial airplanes -- the 777 and 747.
It will be the most advanced and efficient commercial airplane in its
class and will set new standards for environmental responsibility and
passenger comfort.
The airplane will be based on the enabling technologies developed
with a global industry team during the company's examination of the
Sonic Cruiser concept. In December 2002, Boeing announced that based
on customer input and market analysis, it would focus these new
technologies on a super-efficient, mid-sized airplane. The market
potential for a new airplane of this size is forecasted at up to
3,000 units over the next 20 years. The company expects to formally
offer the new airplane to customers in early 2004, with entry into
service targeted for 2008.
Regards,
Michael Di Marco PE
Bulington, NJ USA
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