James Bell, chief financial officer at Boeing, has announced plans to retire from the company on April 1st, 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.
He will take up his new role on February 1st, 2012, with the two working together over the coming months to ensure a smooth transition.
Boeing chairman, president and chief executive 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 chief financial officer he created a world-class finance organisation 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 chief financial officer since 2003 and was appointed corporate president in 2008.
He served as the company’s interim chief executive 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.
In with the new
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.