The Boeing board of directors has elected Dennis Muilenburg to succeed Jim McNerney in the role of chief executive.

Muilenburg will become the tenth chief executive of Boeing when he takes up the role on July 1st.

He has served as Boeing president and chief operating officer since 2013.

McNerney, who joined Boeing’s board of directors in 2001, will continue as its chairman.

To ensure a smooth transition of his chief executive responsibilities to Muilenburg, he will continue working as a company employee until retiring at the end of February 2016, and continue advocating on issues important to Boeing’s US and global customers, partners and stakeholders, including on-going Washington, DC, engagement.

Kenneth Duberstein, Boeing’s independent lead director, continues in that capacity, and Muilenburg has been elected a member of the board.

“Dennis is an extremely capable, experienced and respected leader with an immense passion for our company, our people, and our products and services,” said McNerney.

“As chief executive, Dennis will bring a rich combination of management skills, customer focus, business and engineering acumen, a can-do spirit and the will to win.

“With a deep appreciation of our past accomplishments, and the energy and skill to drive those to come, he is well suited to lead our very talented Boeing team into its second century,” he added.

Muilenburg, 51, is a 30-year company veteran.

Along with Boeing Commercial Airplanes president Raymond Conner, he also has served since 2013 as company vice chairman.

Conner, 60, remains in charge of the $60 billion Commercial Airplanes unit and will serve as sole company vice chairman, where he will continue working closely with Muilenburg on key corporate processes and integrating cross-enterprise strategies and efficiencies.

“The opportunity to lead the people of Boeing in service to our commercial and government customers is a tremendous honour and responsibility,” said Muilenburg.

“Our company is financially strong and well positioned in our markets.

“As we continue to drive the benefits of integrating our enterprise skills, capabilities and experience – what we call operating as ‘One Boeing’ – we will find new and better ways to engage and inspire employees, deliver innovation that drives customer success, and produce results to fuel future growth and prosperity for all our stakeholders.”