updated 11/24/2003 3:40:27 AM ET 2003-11-24T08:40:27

Boeing Co. said Monday Chief Financial Officer Michael Sears and former Air Force official and current Boeing employee Darleen Druyun have both been dismissed for cause as a result of circumstances surrounding Druyun’s hiring.

Major Market Indices

The actions are the result of an internal task force looking into unethical conduct, the company said.

Boeing, the world’s largest manufacturer of airplanes and the No. 2 U.S. military contractor, said in a statement that the actions have no reflection upon its financial condition, which ”remains excellent,” according to Chief Executive Phil Condit.

Boeing said Sears was dismissed “for violating company policies by communication directly and indirectly with Druyun about future employment when she had not disqualified herself from acting in official government capacity on matters involving Boeing.”

Boeing earlier this year was sanctioned for illegally using a competitor’s proprietary documents when it bid for the Evolved Expendable Launch Vehicle, a rocket that lifts military satellites into space.

In July, the Boeing board of directors hired former U.S. Sen. Warren Rudman to conduct an independent review of Boeing practices.

Spokesman John Dern said today’s actions are not the result of the Rudman report, but instead stem from its own internal investigation.

Copyright 2012 Thomson Reuters. Click for restrictions.


Discussion comments


Most active discussions

  1. votes comments
  2. votes comments
  3. votes comments
  4. votes comments

Data: Latest rates in the US

Home equity rates View rates in your area
Home equity type Today +/- Chart
$30K HELOC FICO 3.79%
$30K home equity loan FICO 4.99%
$75K home equity loan FICO 4.69%
Credit card rates View more rates
Card type Today +/- Last Week
Low Interest Cards 13.83%
Cash Back Cards 17.80%
Rewards Cards 17.18%
Source: Bankrate.com