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Monday, December 01, 2003 - Page updated at 09:27 A.M.
A timeline of Phil Condit's career
1963 Bachelor's degree in mechanical engineering from University of California Berkeley.
1965 Master's degree in aeronautical engineering from Princeton University.
1965 Joined Boeing as an aerodynamics engineer on the team developing the Supersonic Transport (SST). Patented design for a flexible wing. Early on, he was tabbed as one of the company's brightest young engineers.
1970s Played a key role on engineering of the 757.
1975 Master's in management from Massachusetts Institute of Technology.
1982 Directed Boeing Commercial Airplane Group's manufacturing, engineering, product development, customer services, and government technical liaison operations
1986 Became general manager of the 777 division.
1989 Named executive vice president of Boeing Commercial Airplanes, and continued as general manager of the 777 division. Held that position until 1992.
1992 Promoted to president of Boeing, joined the company board of directors.
1996 Became CEO of Boeing in April.
1998 Production problems in commercial airplanes cause the company's finances to worsen, former McDonell Douglas chief Harry Stonecipher assumes more influence within the company, Condit shifts priorities away from commercial airplanes and more toward defense and space for diversification. Boeing, which employed 100,000 in the Puget Sound region at the time, warns of plans to cut 48,000 jobs. Angry shareholders call for Condit's ouster, but he survives.
2000 Boeing stock rebounds, hits goals between $58 and $67 a share, triggering incentives that award Condit with Boeing stock valued at $12 million.
2001 Urged Boeing board to move company headquarters out of Seattle, later decided on Chicago. Sept. 11 terrorist attacks decimate the airline industry, Boeing responds within weeks by planning to cut up to 30,000 jobs in commercial airplanes.
2003 Announces intentions to build a more fuel efficient jet, made largely of composite materials and built around the world, called the 7E7. Fires chief financial officer and a former Pentagon official involved in an ethics scandal, which jeopardizes a $100 billion contract to build 767's as military refueling planes.
Source, Securities and Exchange Commission, "Legend & LegacyThe Story of Boeing and its people," Associated Press
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