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. Outside Director

    Any member of a company's board of directors who is not an employee ...
  4. CEO Confidence Survey

    A monthly survey of 100 CEOs from a variety of industries in ...
  5. Corporate Action

    Any event that brings material change to a company and affects ...
  6. Corporate Governance

    The system of rules, practices and processes by which a company ...
Related Articles
  1. Female CEOs Who Climbed The Corporate ...
    Entrepreneurship

    Female CEOs Who Climbed The Corporate ...

  2. Management Strategies From A Top CEO
    Professionals

    Management Strategies From A Top CEO

  3. The Best CEOs Listen To The Street
    Active Trading

    The Best CEOs Listen To The Street

  4. CEOs Who Blazed The Trail (Kroc, Hock ...
    Entrepreneurship

    CEOs Who Blazed The Trail (Kroc, Hock ...

comments powered by Disqus
Hot Definitions
  1. Accounts Payable - AP

    An accounting entry that represents an entity's obligation to pay off a short-term debt to its creditors. The accounts payable ...
  2. Ratio Analysis

    Quantitative analysis of information contained in a company’s financial statements. Ratio analysis is based on line items ...
  3. Days Payable Outstanding - DPO

    A company's average payable period. Calculated as: ending accounts payable / (cost of sales/number of days).
  4. Net Sales

    The amount of sales generated by a company after the deduction of returns, allowances for damaged or missing goods and any ...
  5. Over The Counter

    A security traded in some context other than on a formal exchange such as the NYSE, TSX, AMEX, etc. The phrase "over-the-counter" ...
  6. Earnings Before Interest After Taxes - EBIAT

    A financial measure that is an indicator of a company's operating performance. EBIAT, which is equivalent to after-tax EBIT ...
Trading Center