8-KLeadership ChangesCorporate ChangesExhibits & Filings

BOEING CO 8-K Report, Executive Changes (Dec 16, 2008)

Filed December 16, 2008For Securities:BABA-PA

Summary

This 8-K filing from Boeing on December 15, 2008, primarily announces the resignation of Director James L. Jones from the Board of Directors. General Jones, a retired Marine Corps General, resigned following his appointment as National Security Advisor by U.S. President-elect Barack Obama. In accordance with the company's governance principles, his resignation was offered due to this significant change in occupation. The resignation led to a corresponding amendment of Boeing's By-Laws. Specifically, the Board approved a reduction in the total number of directors from ten to nine. This change reflects the immediate vacancy created by General Jones' departure and ensures the Board operates with the newly established nine-member size.

Key Highlights

  • 1Resignation of Director James L. Jones from the Board of Directors.
  • 2General Jones' resignation is a result of his appointment as National Security Advisor to President-elect Barack Obama.
  • 3Boeing's Board of Directors accepted General Jones' resignation.
  • 4The company's By-Laws were amended to reduce the size of the Board from ten to nine directors.
  • 5The amendment to the By-Laws is effective immediately following General Jones' resignation.
  • 6The filing includes attached exhibits: Amended and Restated By-Laws and a press release announcing the resignation.

Frequently Asked Questions

James L. Jones resigned from Boeing's Board of Directors because he was appointed as the National Security Advisor by U.S. President-elect Barack Obama. His change in occupation necessitated his resignation in accordance with Boeing's Corporate Governance Principles.

The resignation of James L. Jones led to an amendment of Boeing's By-Laws, reducing the total number of directors on the Board from ten to nine.

This specific 8-K filing does not indicate any direct financial impact on Boeing resulting from the resignation. It is primarily administrative, concerning board composition and governance.

The resignation of James L. Jones and the subsequent amendment to the By-Laws reducing the board size to nine directors were approved and became effective on December 15, 2008.