Harry Stonecipher, Boeing CEO Fired!

The CEO of Boeing has been fired following revelations that he had an affair with a female Boeing executive. THe CFO will take temporary controll of the company.

Boeing Fires CEO After 'Relationship'

NEW YORK (Reuters) - Boeing Co. Monday said it fired Chief Executive Harry Stonecipher, after a probe into a personal relationship he had with a female executive that it said "reflected poorly" on the No. 1 U.S. aircraft maker.

Boeing's board "asked for and received" Stonecipher's resignation, taking action following an investigation into "a personal relationship between Stonecipher and a female executive of the company who did not report directly to him," the commercial jet manufacturer and defense contractor said.
Fired

That's what you get for playing:
"Pokey, pokey" while at work.

The naughty boy. =P

I'm not advocating affairs in the workplace but what business is it of the corporation unless they were messing around in his office or something.

The report says: "a female executive of the company who did not report directly to him" so it can't be the direct report conflict of interest clause...

I don't get it...

Gotta go with intelgurl on this, doesn't make sense. Didn't they just lose a big contract? If so, this would be an action that would not reflect the company, just pointing a finger.

Aparantly there was an 'ETHICS agreement' signed by Boeing
and all Boeing employees. According to Boeing the actions of
Stonecipher goes against company ethics.

Even though allegedly no favoritism was shown, it is still the
appearance of possible employee favoritism, etc. etc. The
APPEARANCE of wrongdoing has to be avoided as much as
the real thing.

I didn't think it made sense either, but this is how the rules are
written and everyone agrees to play by the rules in order to
be employed at Boeing.

What Harry Stonecipher did was a personal affront to me. I am enraged that he acted the way he did, especially regarding the Company's recent committment to ethics.

Whether or not his actions were tied to any procurement activities or business related dealings (and it appears that they were not), of all organizations, The Boeing Company has the most to lose as a result of this stuff.

He has betrayed his family and his teammates.

Originally posted by FlyersFan
Aparantly there was an 'ETHICS agreement' signed by Boeing
and all Boeing employees.

So it's safe to assume the female executive was fired also, right? I wonder if this wasn't just a way to oust the current CEO

I too do not condone the affair. I believe that having an affair on ones spouse is the secord worst thing next to killing them that you can do in a marriage. It is a betrayal of the trust in that relationship that is in my opinion unrepairable.

If he was willing to do that in a relationship that he took an oath to, what would he do in a relationship with a company.

I too am curious as to what will happen to the woman. They don't mention her name, as if they are trying to protect her. Why? It was consensual, she was just as guilty as he was. Even more so if she was the one that initiated the affair in order to attempt to better her position in the company. Even if he wasn't in a position directly in line with hers. She was an executive as well, and I am sure the CEO has some what of sway on career and compensation whether Boeing is denying it or not.

Her name is in my opinion being intentionally left out so not to ruin her career, but only destroy his. That is pretty one sided.

Phae

This isn't big deal he volated company policies. One of my companies written policies is that any employee who is found to have comitted adultry is removed from any position that requires employee confidentiality.
Not becuase of any religous reasons, simply becuase if he can't keep his word to his wife I don't feel he can be trusted with sensitive corporate informaton.
My company, My policies.

This has to be an attempt to oust him for other reasons. If having an adulterous affair "reflects poorly" on Boeing, then why is Boeing publicizing it?

First, I'm not sure the CEO having an affair with a co-worker is the worst thing I've ever heard of, since it happens everywhere all the time. I doubt that a significant number of shareholders would dump the stock on this basis. And even if they did, someone else would just buy it. It's not like he took advantage of a 22-year old who was overcome by his wealth and power. His lover is a 48-year old divorcee who does not even report directly to him.

Martha Stewart obstructed justice and her stock is soaring. Also, what Stonecipher did is not even remotely like the crimes the Enron and Worldcom boys committed.

Second, if Boeing does not want the adverse publicity about the affair, it could simply ask him to stop the affair. There's nothing that requires Boeing to publicize it and embarrass both he and his lover. They could have asked him to resign and said he just wanted to retire a year earlier. Nothing would reflect badly on Boeing then.

Yet Boeing fires him and stirs up the controversy. It looks to me like Boeing chose to publicize the affair simply so it could then fire him to prove what a clean image the company has. I'm no enemy of corporate America, but this looks manipulative to me. I think Boeing's handling of this situation reflects more poorly on the corporation than Stonecipher's love affair.

Why should I care what the CEO is doing in his free time? What if Boeing found out Stonecipher enjoyed porn magazines? What if Boeing found out Stonecipher was gay? So what? He's either a good CEO or he isn't (and we could debate that for hours).

I don't buy that adultery might indicate a propensity to be untrustworthy in other areas. The sort of lying that happens in a love affair is a lot different than stealing confidential information. Stonecipher may really love this woman. Not all affairs are about quick sexual fixes. There is an emotional component to romantic relationships that can impair one's judgment, and love can cause a person to do something he (or she) would not otherwise do (like lie). I don't think having a love affair indicates a propensity for dishonesty in other areas, anymore than I think a 14 year old kid stealing a Snickers bar from a convenience store indicates that one day he cannot be trusted with a company's confidential information.



[edit on 9-3-2005 by kindun]

Originally posted by FlyersFan
Aparantly there was an 'ETHICS agreement' signed by Boeing
and all Boeing employees. According to Boeing the actions of
Stonecipher goes against company ethics.

Even though allegedly no favoritism was shown, it is still the
appearance of possible employee favoritism, etc. etc. The
APPEARANCE of wrongdoing has to be avoided as much as
the real thing.

I didn't think it made sense either, but this is how the rules are
written and everyone agrees to play by the rules in order to
be employed at Boeing.

This is a 100% true.
My father works for Boeing.

But all that aside...Mr.Stonecipher is 68 or 69...and the woman he was having "relations" with was quite younger....
Hey if you get get it like that great..but d*** dont let it screw your job as a CEO to a company like Boeing.