From the Wires
Boeing Rotates Several Executives in Defense, Space & Security Unit
- Focused on growth, affordability and people amid streamlining
By: PR Newswire
Nov. 7, 2012 01:00 PM
ST. LOUIS, Nov. 7, 2012 /PRNewswire/ -- Boeing (NYSE: BA) is rotating assignments for several executives in its Defense, Space & Security unit, demonstrating its commitment to talent development as it continues to pursue the growth and affordability strategy it has followed since 2010.
"Our people and innovation are our competitive advantages," said Boeing Defense, Space & Security (BDS) President and CEO Dennis Muilenburg. "We are investing in both even as we are exceptionally focused on providing affordable solutions for our customers."
The assignments listed below, and others, will be effective Jan. 1.
Since 2010, in response to changing market conditions, BDS has been driving productivity improvements to reduce costs, bolster its competitiveness and enable future growth. It has achieved $2.2 billion in savings by reducing overhead costs, working with suppliers on efficiency improvements, and rationalizing facilities space.
In terms of facilities space, for example, BDS is implementing a greater than 10 percent reduction and is looking for more over time.
These steps allowed Boeing to invest in growth opportunities such as the Phantom Eye hydrogen-powered unmanned airborne system, 702SP (small platform) satellite, Maritime Surveillance Aircraft, and numerous international campaigns.
The affordability efforts continue, because additional cost reductions are needed, and are supported by reductions in executive ranks and overhead costs. By the end of 2012, BDS expects to have 30 percent fewer executive positions than in 2010.
"We are at one of the most challenging yet opportunity-rich times in our history," Muilenburg said. "While funding for the U.S. Department of Defense is under extreme pressure, we're innovating and expanding our core, in the U.S. and around the globe, to sustain and grow our business."
A unit of The Boeing Company, Boeing Defense, Space & Security is one of the world's largest defense, space and security businesses specializing in innovative and capabilities-driven customer solutions, and the world's largest and most versatile manufacturer of military aircraft. Headquartered in St. Louis, Boeing Defense, Space & Security is a $32 billion business with 61,000 employees worldwide. Follow us on Twitter: @BoeingDefense.
SOURCE Boeing Defense, Space & Security
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