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Philip M. Condit, Chairman & CEO of Boeing, Elected New Chairman of the Business Roundtable

Washington/June 23, 2003/Satnews Daily/ — The Business Roundtable said Philip M. Condit, chairman and CEO of Boeing Co., has been elected as its new chairman.

Condit was elected during the annual meeting of the Business Roundtable, which is an association of chief executive officers of leading companies who are committed to advocating public policies that foster vigorous economic growth. He replaces John T. Dillon, chairman and CEO of International Paper, who has been chairman of the Business Roundtable since 2001.

"Phil Condit is a national and international leader in promoting access to new markets that create jobs for U.S. workers and in growing the global economy," Dillon said. "As chairman of the Business Roundtable's International Trade and Investment Task Force, Phil led the effort to win congressional passage of critically important Trade Promotion Authority legislation, which enhances the ability of the United States to negotiate new trade deals, and the adoption of Permanent Normal Trade Relations with China. He is the perfect choice to lead the Business Roundtable's activities to champion economic growth and create a dynamic global economy."

Condit has been CEO of Boeing since 1996 and was elected chairman in 1997. His career at Boeing started in 1965 when he joined the company as an aerodynamic engineer on the supersonic transport (SST) program.

Condit received a bachelor's degree in mechanical engineering from the University of California at Berkeley in 1963; a master's degree in aeronautical engineering from Princeton University in 1965; a master's degree in management from Massachusetts Institute of Technology in 1975; and, in 1997, a doctorate in engineering from Science University of Tokyo, where he was the first Westerner to earn such a degree.

As he assumed his new position, Condit praised Dillon's leadership and record of achievement during his two years as the Business Roundtable's chairman.

"John Dillon has led the Business Roundtable to new prominence as an influential force in Washington," Condit said. "Through his leadership, the Roundtable has launched a specialized economic outlook survey that has provided critically important information regarding the projections of leading CEOs on jobs, growth and capital expenditures. 

"John Dillon also recognized the important role that business plays in protecting homeland security, since 85 percent of the nation's critical infrastructure is owned or operated by the private sector," Condit added. "Under his chairmanship, the Business Roundtable established the Security Task Force following the terrorist attacks in 2001. This task force has already made a difference in our nation's homeland security through creation of CEO COM LINK, a secure telecommunications system that ensures timely communication between top federal officials and CEOs during a threat or crisis."

Condit will spearhead the Business Roundtable's efforts on its expansive 2003 policy agenda.  The Business Roundtable's top priorities include growing the economy, expanding free trade, returning common sense to the legal system and addressing rising health care costs.  In addition, the Roundtable is moving forward with an initiative to voluntarily reduce greenhouse gas emissions intensity, assisting states with implementation of the landmark No Child Left Behind law, and continuing its efforts to improve corporate governance practices, transparency and ethics.

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