Boeing Chief Executive Named Chairman

Boeing Co. said Chief Executive Phil Condit will add the title of chairman on Feb. 1, succeeding Frank Shrontz, who is retiring. Condit, 55, a 30-year Boeing veteran, became president in 1992 and chief executive earlier this year. Shrontz, 65, will remain on the board of the world’s largest commercial airplane maker. Condit, an engineer by training, has worked in sales and marketing positions as well at Seattle-based Boeing. Before becoming president, he led the commercial airplane group and was responsible for moving the company’s new 777 jet from the drawing board into production. Since Condit became president, Boeing’s stock has more than doubled. Shares rose 75 cents to close at $96.375 on the NYSE.