June 24 - Effective July 1, Dennis A Muilenburg will become Boeing's tenth chief executive, succeeding W James (Jim) McNerney, Jr, who has held the position for the past 10 years and will continue as chairman.

Muilenburg (pictured below), 51, is a 30-year company veteran, who has served as Boeing president and chief operating officer since 2013, has also been elected a member of the board.

"Dennis is an extremely capable, experienced and respected leader with an immense passion for our company, our people, and our products and services," said McNerney, who made priorities of succession planning and leadership development at the outset of his tenure. "As ceo, Dennis will bring a rich combination of management skills, customer focus, business and engineering acumen, a can-do spirit and the will to win. With a deep appreciation of our past accomplishments, and the energy and skill to drive those to come, he is well suited to lead our very talented Boeing team into its second century," he added.

Boeing says that with a relentless focus on internal productivity to fund investments in innovation and growth, its financial performance steadily improved under McNerney, with revenue rising 73 percent to a record USD90.8 billion last year from USD52.5 billion in 2004, the year before he became ceo.

In his most recent role, Muilenburg shared with McNerney oversight of day-to-day business operations with a focus on the company's growth and productivity initiatives, key customer relationships and leadership-development programmes.Muilenburg joined Boeing's engineering ranks as an intern in Seattle in 1985. He earned a bachelor's degree in aerospace engineering from Iowa State University and a master's in aeronautics and astronautics from the University of Washington.