Boeing said Thursday it has reduced its board from 12 to 11, following the departures of John Bryson, who resigned in June to become U.S. Secretary of Commerce; and...
Boeing said Thursday it has reduced its board from 12 to 11, following the departures of John Bryson, who resigned in June to become U.S. Secretary of Commerce; and John McDonnell, 74, the former chairman of McDonnell Douglas, who retired as of Boeing’s annual meeting Monday.
Larry Kellner, the former chairman and chief executive of Continental Airlines and now president of private equity firm Emerald Creek Group, was elected to the board.
McDonnell’s retirement had been announced in March; company by-laws require board members to retire at 74. The son of McDonnell Aircraft founder James S. McDonnell, he served more than 38 years on the board at McDonnell Douglas and then, following the 1997 merger, at Boeing.
The merger made John McDonnell the single largest individual Boeing stockholder. As of March 1, he owned 1,742,832 shares, currently worth $134 million.
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