Posted: Wed, Mar 21, 2001, 2:27 PM ET (1927 GMT)
Boeing, one of the leading aerospace companies in the world, announced a series of management and organizational reforms Wednesday. Boeing chairman and CEO Phil Condit said at a Washington, DC press conference that company was promoting the heads of its three main business units to the position of "president and CEO" of those units. This includes Jim Albaugh, who will be the president and CEO of Boeing's Space and Communications group, headquartered in Seal Beach, California. The company also announced that it would move its corporate headquarters from Seattle to a new location. This new "relatively small" corporate headquarters — 400-500 people, according to Condit — will be deliberately located away from the company's main centers in southern California, Seattle, and St. Louis: Chicago, Dallas/Ft. Worth, or Denver are the three finalist cities.

Related Links:

•  Boeing press release