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Marc Allen to Succeed Mike Cave as Boeing Capital President; Greg Smith Comments

Boeing Logo w-borderMarc Allen, president of Boeing‘s (NYSE: BA) China arm, will succeed Mike Cave as president of the airplane manufacturer’s product financing unit,  Boeing Capital Corp.

Cave will retire from the company May 1 after four years of leadership and Allen will start in his new role March 14 as Boeing plans to realign the Seattle-based unit within its corporate treasury, Boeing said Wednesday.

“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.

Cave, a 31-year company veteran, most recently served as senior VP of business development and strategy, with other roles including chief financial officer of commercial airplanes and VP of finance for information, space and defense systems.

Allen, who has led Boeing China since March 2011 after serving as VP of global law affairs and general counsel to Boeing International, previously practiced law with Kellogg Huber.

Ian Thomas, president of Boeing Australia and South Pacific, will replace Allen as Boeing China president and continue to report to Shep Hill, president of Boeing International and SVP of business development and strategy.

Corporate Treasurer Dave Dohnalek will also add the Boeing Capital Board chairman position to his role and Allen will join the Boeing finance executive team under Smith.

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