Business

January 15, 2014

Boeing Capital’s Cave to retire; Allen named president, to realign unit to Boeing Corporate Treasury

Boeing executive Mike Cave, president of Boeing Capital Corporation, the company’s product financing unit, announced Jan. 15 that he will retire on May 1.

Marc Allen, Boeing China president, will replace Cave, effective March 14.

Cave, 53, who also serves as a Boeing senior vice president, has led Boeing Capital since January 2010. The unit is responsible for arranging, structuring and providing financing for Boeing’s commercial airplane, defense and space products. Cave, a 31-year Boeing veteran, previously served as Boeing’s senior vice president of Business Development & Strategy and held key leadership positions including chief financial officer of Commercial Airplanes and vice president, Finance, for Boeing Information, Space & Defense Systems.

“Mike’s years of leadership and his breadth and depth of experience have had a significant impact on Boeing and employees across the company,” said Greg Smith, Boeing’s executive vice president and chief financial officer. “We thank him and wish him the very best in retirement.”

In taking the helm of Boeing Capital, Allen, 40, will relocate from Beijing to Boeing Capital’s Seattle-area headquarters and realign the unit under Boeing Corporate Treasury. Corporate Treasurer Dave Dohnalek will take on the additional role of Boeing Capital Board chairman, and Allen will join the Boeing Finance leadership team led by Smith.

The changes will tighten the alignment of Boeing Capital’s business and financial operations with Boeing Corporate Treasury and enhance the unit’s functional mission of supporting customers and managing financial risks.

Allen has led Boeing China since March 2011, overseeing the company’s largest market outside the United States as the company’s annual delivery pace to China has nearly doubled. Prior to leading Boeing China, Allen served as vice president of Global Law Affairs and general counsel to Boeing International, leading the company’s international legal practice group from inception in 2007.

“Boeing Capital is an important enabler of our product growth strategy, and Marc is ideally suited to lead the business,” said Smith. “Marc positioned Boeing exceptionally well in one of our leading commercial markets over the past three years and brings deep knowledge of the international customer, financing and regulatory environment to Boeing Capital.”

Before Boeing, Allen practiced law with the Washington, DC, firm of Kellogg Huber, litigating complex commercial matters for a range of domestic and international clients. Allen’s previous government service includes an appointment as U.S. Supreme Court Justice Anthony M. Kennedy’s law clerk. His prior business roles include serving as a vice president of Professional Team Physicians, a national sports medicine marketing firm based in New York, and as a senior associate of The Parthenon Group, a Boston-based strategy consulting firm.

Allen will be succeeded as Boeing China president by Ian Thomas, who has served as president of Boeing Australia and South Pacific for the past five years. Thomas will lead Boeing’s business in China from the Boeing China headquarters in Beijing and will continue to report to Shep Hill, president, Boeing International, and senior vice president, Business Development & Strategy. A successor to Thomas in Australia will be announced shortly.




All of this week's top headlines to your email every Friday.


 
 

 
LM-facility

Lockheed Martin opens Surface Navy Innovation Center

Lockheed Martin has opened the Surface Navy Innovation Center in Moorestown, N.J., to support the development of new technologies for the U.S. Navy. The SNIC is a research, development and demonstration facility that brings tog...
 
 
raytheon-test

Raytheon successfully demonstrates integrated electronic warfare capabilities

EL SEGUNDO, Calif. –┬áRaytheon, in collaboration with the U.S. Navy, successfully demonstrated an end to end, first of its kind, integrated electronic attack system during flight tests at the Naval Air Weapons Station Chi...
 
 
kmax

K-MAX Helicopter, Indago Quad Rotor demonstrate firefighting capability

https://www.youtube.com/watch?feature=player_embedded&v=53cBlCfLpZg A team of Lockheed Martin and Kaman unmanned aircraft successfully demonstrated its ability to aid in firefighting operations. During the demonstration, t...
 

 
boeing-787

Boeing ecoDemonstrator 787 tests innovations for more efficient air travel

The Boeing ecoDemonstrator 787 has begun flight testing more than 25 new technologies aimed at improving aviation’s environmental performance through every phase of flight. The Boeing ecoDemonstrator Program accelerates t...
 
 

Northrop Grumman to upgrade U.S. Air Force, Marine Corps LITENING advanced targeting systems

Northrop Grumman has received an award of $116 million to upgrade AN/AAQ-28(V) LITENING Advanced Targeting Systems for the United States military. Under the terms of the existing indefinite delivery/indefinite quantity contract, Northrop Grumman will provide upgrades and spares to the Air Force, Air Force Reserve, Air National Guard and Marine Corps. This award will bring...
 
 

GA-ASI advances sense, avoid capability with two new test flights

General Atomics Aeronautical Systems, Inc. Nov. 20 announced two key technological advances related to its ongoing Sense and Avoid system development efforts. GAASI is a leading manufacturer of Remotely Piloted Aircraft systems, radars, and electro-optic and related mission systems solutions. In collaboration with the Federal Aviation Administration and Honeywell, GA-ASI tested a proof-of-conc...
 




0 Comments


Be the first to comment!


Leave a Reply

Your email address will not be published. Required fields are marked *

You may use these HTML tags and attributes: <a href="" title=""> <abbr title=""> <acronym title=""> <b> <blockquote cite=""> <cite> <code> <del datetime=""> <em> <i> <q cite=""> <strike> <strong>