Boeing's Interim President And CEO Is An Aerospace Veteran

James Bell was named president and chief executive officer of The Boeing Company, the world’s largest aerospace company, on an interim basis in March 2005. While in this role, he will also continue to serve as chief financial officer for Boeing, according to the company web site.

Bell is the first African-American to lead Boeing. His ascendency to the top was announced Monday, after CEO Harry Stonecipher was forced to resign in a sex scandal.

As president and CEO, Bell oversees Boeing’s strategic direction, sets operational and financial performance targets, directs capital expenditures and approves all key personnel assignments. A 32-year Boeing veteran, Bell has extensive experience overseeing business performance and growth at the Chicago-based, $52 billion, 157,000-person commercial airplane and defense company.

Bell took over as CFO in 2003, after the resignation of his predecessor, Michael Sears. Sears is now serving time in a federal prison for his part in a scandal that saw Boeing hire Darleen Druyun, the USAF negotiator who awarded the company a $23.5 billion deal to replace the service's aging tanker fleet. Druyun later admitted she cooked the deal to win favor from Boeing. She, too, is serving time in a federal prison.

As CFO, Bell is responsible for overall financial management of the company, its financial reporting and transparency, and for multiple corporate functions including Controller, Treasury, investor relations, corporate and strategic development and the company’s customer-financing activities.

Prior to being named CFO, Bell held the position of senior vice president of finance and corporate controller. A corporate officer in that position, he also served as the company’s principal interface with the board of directors’ audit committee.

Previous positions include vice president of contracts and pricing for Boeing Space and Communications, where he oversaw policy direction, acquisition reform, new business opportunities and program performance. He worked closely with the Department of Defense on military space programs and export issues. As a member of the Joint Leadership Council, a Boeing initiative with senior DoD and NASA acquisition executive membership, Bell helped advance government-industry partnership.

Before becoming vice president at the operating group level in 1996, Bell served as director of business management of the Space Station Electric Power System at the Boeing Rocketdyne unit. Bell began his career with Rockwell in 1972 and held positions of increasing responsibility to include corporate senior internal auditor, manager of accounting and manager of general and cost accounting.

A native of Los Angeles, CA, Bell attended California State University at Los Angeles where he earned a bachelor's degree in Accounting.

He is a member of the board of directors of the Joffrey Ballet, the Chicago Urban League, World Business Chicago and New Leaders for New Schools.

FMI: www.boeing.com