Boeing CEO James McNerney to Step Down July 1, Replacement Began as an Intern

W. James McNerney, Jr. (left) and Dennis A. Muilenburg (right)

W. James “Jim” McNerney, Jr. announced in a press release Tuesday that he will step down as Boeing’s CEO on July 1. Dennis A. Muilenburg, vice chairman, president and COO since 2013, was named as his replacement.

McNerney, who reached the company’s mandatory retirement age of 65 this year, described Muilenburg as “an extremely capable, experienced an respected leader with an immense passion for our company, our people, and our products and services.”

Muilenburg started out as an engineering intern at Boeing in 1985. He holds a bachelor’s degree in aerospace engineering from Iowa State University and a master’s degree in aeronautics and astronautic from the University of Washington.

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

[Photos: Boeing]