Boeing's New CEO Pledges Support for US Campaign to End Airbus Subsidies

The appointment of James McNerney as the new CEO of Boeing has sparked fresh optimism in the aerospace industry, with shares soaring by 7% to close at $66.15 in New York after his confirmation. McNerney, a 55-year-old veteran of 3M and General Electric, has pledged his support to the US Administration's campaign to force Airbus to give up subsidies. He has stated that Boeing believes in free trade and is committed to ending the subsidies, which he believes are unfair.

Key Takeaways:

• James McNerney, the new CEO of Boeing, has pledged his support to the US Administration's campaign to force Airbus to give up subsidies.
• McNerney's appointment has led to a 7% surge in Boeing's shares, closing at $66.15 in New York.
• The new CEO has expressed his commitment to Boeing's strict moral code, which was adopted after a series of business and personal scandals at the company.
• McNerney has no current plans to acquire companies in Europe, but notes that this is a strategic issue that will need to be considered.
• This is McNerney's first stint as CEO, replacing Harry Stonecipher, who was forced out in March due to an affair with a colleague.
• Boeing is the world's largest aviation company, and this is the third CEO change in two years.

Statistics:

• Boeing's shares soared by 7% after James McNerney's confirmation as CEO, closing at $66.15 in New York.
• The new CEO is 55 years old and has a long history of experience in the industry, having previously worked at 3M and General Electric.
• Boeing is the world's largest aviation company, with this being the third CEO change in two years.
• Harry Stonecipher, the previous CEO who was forced out in March, had been in charge for several years but was ultimately let go due to an affair with a colleague.

Sources:

• The Times, 2005