Phil Condit

AAA

DEFINITION of 'Phil Condit'

A former CEO and chairman of Boeing. Condit is best known for leading Boeing to become a world leader in aircraft manufacturing. However, he also oversaw the company's first major loss in decades in 1997 and the layoffs of nearly 50,000 employees over the next four years as the company suffered numerous crises and scandals. Condit resigned in 2003.

INVESTOPEDIA EXPLAINS 'Phil Condit'

Condit was born in 1941 in Berkeley. He holds a master's degree in aeronautical engineering from Princeton University and a master's degree in management from the Massachusetts Institute of Technology's Sloan School of Management. He also earned a Ph.D. from the Science University of Tokyo.


Condit began his career with Boeing in 1965 as an aerodynamics engineer. He became president of Boeing in 1992, CEO in 1996 and chairman in 1997.

RELATED TERMS
  1. Chairman

    An executive elected by a company's board of directors that is ...
  2. Corporate Headquarters

    A place where a company's executive offices and executives' direct ...
  3. Corporate Action

    Any event that brings material change to a company and affects ...
  4. Inside Director

    A board member who is an employee, officer or stakeholder in ...
  5. Insider

    A director or senior officer of a company, as well as any person ...
  6. Corporate Governance

    The system of rules, practices and processes by which a company ...
Related Articles
  1. Entrepreneurship

    Female CEOs Who Climbed The Corporate Ladder

    These women climbed the ladder and broke the glass ceiling.
  2. Professionals

    Management Strategies From A Top CEO

    Find out what this winning manager did to grow one of the biggest companies in the world.
  3. Active Trading

    The Best CEOs Listen To The Street

    Studies show that transparency and listening to the market are a winning combination for CEOs and the companies they run.
  4. Entrepreneurship

    CEOs Who Blazed The Trail (Kroc, Hock And Welch)

    The right CEO can make all the difference in a company's market position.
  5. Investing

    Nasty Shareholder Activist Battles And Why They Happened

    Shareholder activists can have a big impact on a company's operations. These battles turned ugly as management lost control.
  6. Entrepreneurship

    The CEO Dream Team - Walton, Schwab, Marcus And Blank

    The successes of these three CEOs can be linked back to one common factor: customer service.
  7. Professionals

    You Don't Know Jack Welch

    This engineer climbed the corporate ladder to lead his company into double-digit growth.
  8. Professionals

    Human Resource Planning

    Just as companies must plan ahead to ensure a steady supply of raw materials, machinery and office space, they must also plan ahead to maintain a steady supply of quality employees. Human resource ...
  9. Professionals

    Value Proposition

    A value proposition is a company’s promise to its customers of a unique and relevant benefit. The value proposition is often the heart of a company’s advertising campaigns.
  10. Investing

    A Look at the 5 Richest People in the World

    Who are the five richest people in the world and how did they manage that feat?

You May Also Like

Hot Definitions
  1. Prospectus

    A formal legal document, which is required by and filed with the Securities and Exchange Commission, that provides details ...
  2. Treasury Bond - T-Bond

    A marketable, fixed-interest U.S. government debt security with a maturity of more than 10 years. Treasury bonds make interest ...
  3. Weight Of Ice, Snow Or Sleet Insurance

    Financial protection against damage caused to property by winter weather specifically, damage caused if a roof caves in because ...
  4. Weather Insurance

    A type of protection against a financial loss that may be incurred because of rain, snow, storms, wind, fog, undesirable ...
  5. Portfolio Turnover

    A measure of how frequently assets within a fund are bought and sold by the managers. Portfolio turnover is calculated by ...
  6. Commercial Paper

    An unsecured, short-term debt instrument issued by a corporation, typically for the financing of accounts receivable, inventories ...
Trading Center