Yorkshire CND - Boeing Fires Execs for Unethical Conduct

24 November 2003
Boeing Fires Execs for Unethical Conduct
Boeing Fires Chief Financial Officer Sears, Vice President Druyun Over Unethical Conduct
The Associated Press

http://abcnews.go.com/wire/Business/ap20031124_1528.html

Mike Sears, executive vice president and chief financial officer for Boeing Co., and Darleen Druyun, vice president and deputy general manager of Missile Defense Systems, (AP Photo/Boeing Co., HO)

CHICAGO Nov. 24 — Boeing Co. unexpectedly fired its top financial executive on Monday for unethical conduct, saying he negotiated the hiring of a missile defense expert while she worked for the U.S. government and was in a position to influence Boeing contracts.

The former Air Force official, Darleen Druyun, was dismissed along with chief financial officer Mike Sears 10 months after she was hired as vice president and deputy general manager of Boeing's Missile Defense Systems unit.

24 November 2003
Boeing dismisses CFO and missile systems VP 'for unethical conduct'
The Canadian Press

http://www3.cjad.com/content/cjad_news/article.asp?id=b112425A

CHICAGO (CP) - Boeing has fired its chief financial officer and a vice-president in its missile defence systems division, citing "unethical conduct."

The aerospace company said Monday that executive vice-president and CFO Mike Sears has been dismissed for cause effective immediately over the hiring of Darleen Druyun, a former U.S. government official who was also fired for cause as vice-president and deputy general manager of the missile defence systems unit.

"Sears was dismissed for violating company policies by communicating directly and indirectly with Druyun about future employment when she had not disqualified herself from acting in her official government capacity on matters involving Boeing," the company stated.

"In addition, an internally initiated review found both attempted to conceal their misconduct."

Boeing said it has informed the air force and will co-operate with the government investigation, adding that it cannot predict what action the government might take against Sears and Druyun or the company.

"Compelling evidence of this misconduct by Mr. Sears and Ms. Druyun came to light over the last two weeks," stated chairman and CEO Phil Condit.

"Upon review of the facts, our board of directors determined that immediate dismissal of both individuals for cause was the appropriate course of action."

Condit said Monday's action "reflects in no way on the financial condition of the company, which remains excellent."