SEATTLE, May 10, 2001 -- The Boeing Company solidified a series of strategic changes to its corporate architecture today by choosing to locate its new world headquarters in Chicago.
"We're continuing to transform our company with a focus on long-term growth and value creation. Our new corporate architecture - with a leaner headquarters located separately from our major business units - is a fundamental element of our business strategy," said Boeing Chairman and CEO Phil Condit.
"We looked at three very exciting metropolitan areas in which to base our company. Each community had many positive attributes and would be a suitable location for a corporate headquarters. It was a very difficult decision and no single factor made the difference. In the end, we looked at all the data and made what we believe is the right choice for Boeing," Condit said.
By Sept. 4, the company plans to begin operations in its new headquarters at 100 North Riverside Plaza in Chicago.
Boeing announced on March 21 a series of changes to its corporate architecture that included plans for a leaner headquarters located separately from its existing businesses. The headquarters staff, which is expected to include fewer than 500 people, will focus on developing global growth opportunities and creating shareholder value. The announcement also elevated to CEO the leaders of the company's three largest business units and gave them broader responsibilities for improving performance and achieving growth objectives. On May 7, the company announced the related promotion of Harry Stonecipher to the position of Vice Chairman, shifting his emphasis from the day-to-day running of the company to developing long-term growth strategies.
The Chicago, Dallas-Fort Worth and Denver metropolitan areas were considered as the potential locations for the new world headquarters. John Warner, Boeing senior vice president and chief administrative officer, led an extensive site evaluation process that included visits to each of the three metropolitan areas.
"Any one of these three cities would have worked - including Seattle if it weren't collocated with our commercial airplanes headquarters. We would recommend highly that other firms on a similar quest put these four cities on their short list," Warner said.
Editors' Note: Condit and Warner will hold a press conference later today (May 10, 2:00 p.m. CDT, at Atlantic Aviation, Chicago Midway Airport) to discuss the selection and then visit the new world headquarters building.
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