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Boeing Quietly Split CEO, Chairman Roles After Investor Vote

  • Board’s leader must now come from the independent directors
  • Policy change wasn’t widely publicized after being adopted
Preparations Ahead Of The Farnborough International Airshow 2014

Photographer: Simon Dawson/Bloomberg

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Boeing Co.’s board quietly separated the chairman and chief executive officer roles earlier this year, after a majority of shareholders bucked management and supported a permanent split of those positions in a nonbinding vote at the company’s annual meeting.

Under the new policy, which is detailed in a statement on Boeing’s website but hasn’t been widely publicized, the board will elect a chairman from among the independent directors each year following the shareholder meeting. If that chairman leaves the board or joins the company’s executive ranks, a new leader will be picked from the remaining independent directors.