Summary
This 8-K filing by The Boeing Company, dated September 14, 2009, primarily concerns a modification to their internal policies regarding the appointment of foreign consultants. Specifically, Company Policy POL-14, "Consultant Services," was revised on June 9, 2009. The key change involves the transfer of responsibility for the administration, review, and approval of amendments to this policy. Previously held by the Senior Vice President and General Counsel, this authority is now vested with the Corporate President and Chief Financial Officer. Boeing states this change was made to align policy content responsibility with the corporate function possessing the greatest operational responsibility for its implementation. Investors should note that this filing does not appear to contain material financial performance updates but rather an administrative change in corporate governance and oversight of foreign consultant engagements.
Key Highlights
- 1Boeing revised its internal policy (POL-14) on Consultant Services on June 9, 2009.
- 2Responsibility for administering, reviewing, and approving amendments to the consultant policy has been transferred.
- 3The authority shifted from the Senior Vice President and General Counsel to the Corporate President and Chief Financial Officer.
- 4The stated reason for the change is to align policy responsibility with operational implementation.
- 5The filing includes the revised Company Policy POL-14 and related procedure PRO-1557 as exhibits.
- 6This is an administrative update related to corporate governance and not a financial performance report.