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Thursday, March 25, 1999 - Page updated at 12:00 AM

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Boeing Revamps Finance Unit, Realigns Some Key Personnel

Seattle Times Aerospace Reporter

Boeing said today it has restructured its finance unit to intensify the focus on profitability, planning and career development.

"We are increasing our focus on business planning by establishing a new financial-planning and analysis function," said Debby Hopkins, Boeing's new chief financial officer.

The aerospace company has been criticized for failing to develop and share information about costs and profit potential for its programs.

Hopkins became chief financial officer in December and is spearheading a new financial strategy for the company that will include dropping or selling money-losing programs and seeking new businesses.

Among the changes announced today are a realignment of responsibilities in the controller's organization, the appointment of a chief accountant for the company and a new emphasis on career development within the finance function.

Robert Stone, 42, formerly assistant treasurer, was named to the new position of vice president for financial planning and analysis. He will set financial targets, measure progress and evaluate strategic alternatives.

Laurette Koellner, 44, former vice president and general auditor, has been designated vice president and corporate controller. She will handle internal and external financial reporting, coordination of cost allowance for government contracts and financial-systems development. She also will direct the overhaul of Boeing's cost-accounting systems.

Gale Andrews, 49, a 21-year Boeing employees who has been director of internal audits at Boeing Commercial Airplane Group since 1994, will replace Koellner as vice president and general auditor for the company.

Another new appointment is Kevin Murphy, 42, as chief accountant. He was senior manager of financial accounting and will report to Koellner.

Nancy Ratcliffe, 36, formerly assistant controller for business planning and reporting, has been named director of business administration and employee development. She will be responsible for enhancing career-development activities within the finance organization.

Polly Lane's phone message number is 206-464-2149. Her e-mail address is: plane@seattletimes.com

Copyright (c) 1999 Seattle Times Company, All Rights Reserved.

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