Boeing chief executive Jim McNerney is to stand down after 10 years heading up the aircraft manufacturer.
He will replaced by president and chief operating officer Dennis Muilenburg on July 1.
McNerney, 65, will stay on as chairman and is set to retire at the end of February 2016.
Muilenburg has been company vice chairman since 2013, along with Boeing Commercial Airplanes president and CEO Ray Conner.
Conner will stay in charge of the $60 billion Commercial Airplanes unit and will serve as sole company vice chairman.
Boeing said the two would continue working closely on ‘key corporate processes’ and ‘integrating cross-enterprise strategies and efficiencies’.
