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11-25-2003, 07:12 AM
Boeing fires 'unethical' executive

NEW YORK (Reuters) --The dismissal of Boeing Co.'s top finance executive for improperly hiring a former Air Force official was swift and decisive, governance experts say, but the scandal highlights a need for tighter corporate controls amid shrinking tolerance for corporate wrongdoing.

Boeing said early on Monday Chief Financial Officer Michael Sears, 56, was dismissed for violating company policies by communicating with Darleen Druyun about future employment, even though she had not disqualified herself from acting in official government capacity on matters involving Boeing.

Boeing also fired Druyun, on the job less than a year.

The No. 2 U.S. military contractor said it is enhancing its controls, having created an "office of internal governance."

"Compelling evidence of this misconduct by Mr. Sears and Ms. Druyun came to light over the last two weeks," Boeing Chairman and Chief Executive Phil Condit said in a statement.

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