Where we're going from here ...

Harry Stonecipher
President and CEO


As we celebrate the 100th anniversary of powered flight, the people of Boeing have much to reflect on and even more to look forward to.

Boeing and its predecessor companies defined the first century of aviation and our reach for the stars. Starting with wood-and-fabric airplanes, we have driven the technologies that have made safe, convenient and jet-smooth flights possible for millions of travelers. We also have built the greatest military aircraft, rockets and spacecraft to grace the heavens.

As a company, we do big things—great things—and we do them better than anyone else in the world. It's exciting to be in this business, and we have a lot more to add to our aerospace legacy. Our future is as limitless as our past is distinguished—as long as we execute our strategies well, pay unrelenting attention to detail and learn from our mistakes.

In 1996, Phil Condit, our former chairman and CEO, began to implement his bold vision to transform Boeing into a broadly based aerospace company. For the first five years after the merger with McDonnell Douglas until my retirement in 2002, I worked side-by-side with him to help bring that vision into reality. And today we are the largest and best aerospace company in the world.

Now, more than ever, it's important that the people of Boeing pull together in the same direction. Though the company has new leadership, that direction is not going to change. Our strategy is correct: Run healthy core businesses; leverage our strengths into new products and services; and open new frontiers.

I intend to build upon our sturdy foundation:

• We will continue to operate two very healthy core businesses—one in commercial airplanes, and one in space and defense.
  
  
• We will continue to diversify into new but related markets, such as intelligence and networked systems (including homeland security, Air Traffic Management and Connexion by Boeing), that will help both our customers and our core businesses flourish.
  
  
• We will continue to share our technologies and best practices across the company, and to take advantage of our size and buying power, through the competitive advantages that Phantom Works and Shared Services bring us.
  
  
• And we will continue to expand our global presence so that we can increase our market potential, compete effectively against our rivals, sustain good jobs in the United States and around the world, give back to our communities, and return value to our shareholders.

I agreed to come out of retirement because I have a passion for this company and the aerospace industry. I also know without doubt that Boeing has brilliant, dedicated people; that it has well-positioned businesses; and that the company is in excellent financial condition. I have confidence in all of us.

So we're in this together. And I am confident that, together, we can take Boeing to the next level of performance. Given the problems that the company has faced in 2003, the task before us is to execute. We need to strengthen our reputation with our customers, employees, investors and the communities in which we operate. Together, through flawless execution, we can exceed customer expectations and put the problems of the past year behind us.

Ultimately, I believe that our greatest asset is the depth and breadth of our people's knowledge, creativity and experience. The best thing that we can do is share those resources through open and honest communication based on mutual respect.

We are incredibly fortunate to be a part of Boeing and to live in these times. Because we will be driving even greater change in the next 100 years than the world has seen in the past 100. That is our destiny.