Company: BA
Filing Date: 2025-03-07
Form Type: DEF 14A
Source: 0001193125-25-049921
Chunk: 19

Company: BOEING CO
Filing Date: 2025-03-07
Form: DEF 14A
Chunk 19
---
 elect a Chair on an annual basis from among the independent directors. Larry Kellner served as the independent Board Chair from December 2019 until March 2024. Steve Mollenkopf began serving as independent Board Chair in March 2024 following Mr. Kellner’s decision not to stand for re-electionat the 2024 annual meeting. The Board believes that this leadership structure allows our CEO to focus on executing our strategic imperatives, enhancing our operational stability, sharpening our focus on our core values of safety, quality, integrity and sustainability, and increasing transparency with our stakeholders. Meanwhile, our independent Board Chair can focus on leading the Board to foster strong oversight of management and to position directors to discharge their duties appropriately. Our independent Board Chair also engages regularly with shareholders (including 29 personal engagements during 2024 with shareholders representing approximately 43% of our outstanding shares), providing shareholders with additional insight into the priorities of our directors while also deepening our Board’s understanding of shareholder priorities. Director Independence Board Independence Our Corporate Governance Principles require that at least 75% of the Board satisfy the NYSE criteria for independence. For a director to be considered independent, the Board must determine, after consideration of all relevant facts and circumstances, that such director has no material relationship with Boeing other than as a director, either directly or as a partner, shareholder or executive officer of another entity that has a relationship with Boeing. In addition, the Board has adopted Director Independence Standards to assist the Board in its assessment of director independence, which are available at our website at www.boeing.com/company/general-info/corporate-governance. These standards are designed to supplement the requirements of the NYSE listing standards. If a director or nominee has a relationship with Boeing that is not addressed in the Director Independence Standards, the members of the Board who have already been determined to be independent consider all relevant facts and circumstances and determine whether the relationship is material. The Board has reviewed all direct and indirect relationships between Boeing, each director nominee, and each director who served during 2024, and has determined that all such persons, other than Mr. Ortberg and Mr. Calhoun, are independent. Accordingly, 91% of our director nominees are independent. Committee Independence Our Corporate Governance Principles require that all members of the Aerospace Safety, Audit, Compensation and GPP Committees be independent, in accordance with the Director Independence Standards and pursuant to applicable NYSE listing standards and applicable heightened independence requirements of the SEC. The Board has determined that all members of these committees satisfy