Phil Condit


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.


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.

  1. Board Of Directors - B Of D

    A group of individuals that are elected as, or elected to act ...
  2. Chairman

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

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

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

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

    Top 3 Most Successful African Entrepreneurs

    Discover the educational backgrounds and entrepreneurial ventures of some of the most successful and well-known African entrepreneurs.
  9. Entrepreneurship

    Top 3 Most Successful French Entrepreneurs

    Learn about some of the most famous and successful entrepreneurs who either hail from France or have chosen to relocate to France as their home.
  10. Entrepreneurship

    Top 6 Most Successful European Entrepreneurs

    Understand what makes European entrepreneurs successful. Learn about six European entrepreneurs who have found great success in terms of their net worth.
  1. How are Rupert Murdoch's holdings distributed?

    Rupert Murdoch owns a controlling share of News Corporation and over 750 different businesses. Some of the major brands he ... Read Full Answer >>
  2. How did Bernard Baruch attain his wealth?

    Bernard Baruch obtained his fortune by investing in profitable stocks on Wall Street. Baruch is known as a legendary stock ... Read Full Answer >>
  3. Why was Bernard Baruch known as the "Park Bench Statesman?"

    As someone who preferred to conduct his meetings in informal settings and was led by persuasion rather than pressure, Bernard ... Read Full Answer >>
  4. How did Nathan Rothschild become a stock exchange speculator?

    Market maker Nathan Rothschild learned much of his financial savvy from his father, who dealt in coins and paper money. He ... Read Full Answer >>
  5. What advice does Howard Schultz offer would-be business moguls?

    Starbucks CEO, billionaire and former sports tycoon Howard Schultz has several pieces of advice for would-be moguls and, ... Read Full Answer >>
  6. Why did Howard Schultz leave Starbucks, only to return eight years later?

    Howard Schultz left Starbucks in 2000 due to exhaustion from growing Starbucks from a regional coffee chain to a global company ... Read Full Answer >>

You May Also Like

Hot Definitions
  1. Gross Profit

    A company's total revenue (equivalent to total sales) minus the cost of goods sold. Gross profit is the profit a company ...
  2. Revenue

    The amount of money that a company actually receives during a specific period, including discounts and deductions for returned ...
  3. Normal Profit

    An economic condition occurring when the difference between a firm’s total revenue and total cost is equal to zero.
  4. Operating Cost

    Expenses associated with the maintenance and administration of a business on a day-to-day basis.
  5. Cost Of Funds

    The interest rate paid by financial institutions for the funds that they deploy in their business. The cost of funds is one ...
  6. Cost Accounting

    A type of accounting process that aims to capture a company's costs of production by assessing the input costs of each step ...
Trading Center
You are using adblocking software

Want access to all of Investopedia? Add us to your “whitelist”
so you'll never miss a feature!