Boeing CEO plans to step down


ASSOCIATED PRESS: Jim McNerney, CEO of Boeing for the last 10 years, plans to step down.

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ASSOCIATED PRESS: Jim McNerney, CEO of Boeing for the last 10 years, plans to step down.

The aircraft maker said Tuesday that President and Chief Operating Officer Dennis Muilenburg will become its new CEO on July 1. To ease the transition, McNerney will keep working at Boeing until the end of February. He is also remaining chairman of the Chicago-based company.

McNerney, who took over Boeing as it was struggling with massive production delays from its 787 Dreamliner program, leaves behind a company with a record book of new jet orders and the fastest production rate in history. In the first quarter of this year, it delivered 184 new jets to airlines around the world, up from 161 during the same period the prior year.

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