Boeing Capital president set to retire in December

CHICAGO — A division of Boeing Co. said Thursday President Walt Skowronski will retire at the end of the year.

The U.S. plane maker has named Mike Cave, 49, to assume Skowronski’s role, effective Jan. 1. He will report to President and Chief Financial Officer James Bell.

Shep Hill, 56, will take over Cave’s responsibilities as senior vice president of Business Development and Strategy, while retaining his role as president of Boeing International.

Skowronski, 60, who also serves as a Boeing senior vice president, has led Boeing Capital since November 2003. The subsidiary is responsible for arranging, structuring and providing financing for Boeing’s commercial airplane, space and defense products. He previously served as Boeing’s senior vice president of Finance and Treasurer.

Shares of Boeing fell a penny to $51.75 in after-hours trading, after falling 75 cents to close at $51.76.