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Sarbanes-Oxley News & Developments
Boeing Ejects CFO CFO, Mike Sears was fired for talking with a former US air force official about employment.
> > The aerospace giant fired its CFO, Mike Sears, for reportedly improper chats with a top Air Force missle buyer. Sears talked with a former air force official about future employment before the official had disqualified herself from working on matters involving the aerospace giant. The official, Darleen Druyun, who had since become VP and deputy general manager of missile-defense systems for Boeing, was also fired.
The talks about hiring Druyun happened while she was helping negotiate a deal to buy Boeing refueling tankers. Sears and Druyun met in October 2002 before Druyun disqualified herself from working on Boeing business November 5,2002.
In November 2002, Druyun left the Air Force, joining Boeing in January. Sears failed to follow Boeing procedures for hiring government officials. Further, an internal review found that Sears and Druyun tried to conceal their misconduct.
Source: CFO
Published:2003-12-01
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