Boeing president Muilenburg to succeed CEO McNerney

Seattle

BOEING Co said on Tuesday that president Dennis Muilenburg will take over as chief executive officer on July 1, a transition that comes as the aerospace giant tries to keep pace with a historic boom in the commercial jet market and build its defence business amid tight military budgets.

Mr Muilenburg, 51, will succeed 65-year-old Jim McNerney, who picked Mr Muilenburg as heir apparent in 2013.