Boeing ousts Stonecipher

The bad news just never seems to end for Boeing, does it? This from the AP:

CHICAGO - Boeing Co. abruptly forced out its president and chief executive officer, Harry Stonecipher, for what the company said Monday was a violation of the company's code of business conduct stemming from a relationship the married, 68-year-old Stonecipher had with a female Boeing executive.

The stunning ouster makes Stonecipher the second CEO to depart the Chicago-based airplane maker and defense contractor in disgrace in the past 15 months.

His predecessor, Phil Condit, resigned Dec. 1, 2003, as a result of the defense contracting scandals that ultimately sent two Boeing executives - ex-Air Force procurement official Darleen Druyun and chief financial officer Mike Sears - to jail.