Business Week magazine says that, contrary to the public story line, Phil Condit did not quit willingly as Boeing CEO. Rather, he was forced out by a board that itself was finally forced to recognize his incompetence and do something about it.
Further – who woulda thunk it? – Business Week says that besides being out of his depth as CEO, Condit also was too much of a party animal, developing “a reputation as a womanizer, often with Boeing employees, and an appetite for the high life.”
At Slate, Douglas Gantenbein has another take on how “Boeing's stature as the world's leading manufacturer of commercial airliners—the Boeing 747 stands with Coca-Cola and the Golden Arches as the best-known American products around the globe—has collapsed in a mere half-decade.’
His answer: greed and hubris.