Investing.com -- Boeing (NYSE:BA) announced on Friday that Chief Technology Officer John Tracy will retire from the company later this summer after spending 35 years with the company.
Tracy, who joined McDonnell Douglas as a stress analyst in 1981, will retire from Boeing in July following the aircraft manufacturer's centennial celebration on July 15. Tracy, 61, has served in his current role as Senior Vice President of Engineering, Operations and Technology (EO&T) since October, 2006. McDonnell Douglas, a Berkely, Missouri-based aerospace manufacturer, was acquired by Boeing in 1996 in a $13.3 billion stock swap.
Starting next month, Tracy will begin transitioning his portfolio of EO&T duties to a team of corporate leaders who will report directly to Boeing Chairman, President and CEO Dennis Muilenburg, Boeing said on Friday.
"John Tracy has personified engineering and technical excellence at the leading edge of aerospace innovation throughout his 35 years with Boeing,” Muilenburg said in a statement. “As CTO for the past decade, his leadership, intellect and commitment to bringing together the best of Boeing ensured our success in providing high-value solutions to customers, operating our businesses more efficiently, and enabling investment in future innovation and growth. He will leave us a legacy of achievement that includes a new generation of diverse and talented innovators developed under his watch."
Boeing also announced a series of corporate management changes on Friday, effective on April 4. At the time, chief information officer Ted Colbert will also assume the role of senior vice president, Information & Analytics. As part of his duties, Colbert will be responsible for Boeing's information technology strategy, operations and processes, the company said. On the same date, Scott Fancher will become Boeing's senior vice president of its Program Management, Integration & Development Programs segment. Fancher will be joined at the company's Chicago office by new senior vice president Greg Hyslop, who will head Boeing's Engineering, Test & Technology division.
Shares in Boeing closed on Friday at 124.62, up 1.68 or 1.37%.