Former chief executive of Vanguard Group, Tim Buckley has been appointed as Boeing Board’s newest member with his tenure beginning January 1, the American aircraft manufacturer announced on Friday.
The 55-year-old Buckley will join as the tenth director, from 2019 on Boeing’s board, where he will participate in both the Finance and Governance & Public Policy committees, according to the company’s statement.
Buckley’s appointment will be the 12th board member, the company said, news agency Reuters reported.
Buckley served in various leadership positions, throughout his more than 30-year tenure at the leading American asset management firm Vanguard, including chief investment officer and chief information officer, before ascending to the role of CEO.
The company on Wednesday announced its plan to distribute redundancy notices this week to employees affected by its broader initiative to reduce its global workforce by 17,000 positions, representing 10% of its total staff.
American employees receiving notices this week will remain employed until January, adhering to federal regulations requiring 60 days’ notice before termination.
“As previously announced, we are adjusting our workforce levels to align with our financial reality and a more focused set of priorities. We are committed to ensuring our employees have support during this challenging time,” Boeing said in a statement.
The notifications coincide with new CEO Kelly Ortberg’s efforts to restart production of the popular 737 MAX, after a disruptive weeks-long strike by over 33,000 US West Coast workers that stopped production of most commercial aircraft.
“We will continue forward with our previously announced actions to reduce our workforce levels to align with our financial reality and a more focused and streamlined set of priorities,” CEO Kelly Ortberg wrote to staff.
“These structural changes are important to our competitiveness and will help us deliver more value to our customers over the long term,” he added.
