The Boeing Company announced that it has named Robert E. Verbeck, 51, Chief Financial Officer (CFO) of its $34 billion (2009 revenues) Boeing Defense, Space & Security (BDS) business. He succeeds Randy Simons, who is retiring.

"In our business, we have to keep building momentum around our strong performance culture to best serve our customers and earn the opportunity to grow," said Dennis Muilenburg, President and CEO of BDS. "Bob's practical know-how in all disciplines of business finance will help us compete and innovate more effectively. His experience will have a direct impact on our ability to drive performance in all dimensions for our stakeholders, including customers, shareholders, employees and local communities."

Verbeck most recently served as CFO for the Boeing Military Aircraft business unit of BDS. He previously held posts as BDS Controller, Program Manager for the United Kingdom tanker program, and General Manager of BDS Finance.

Verbeck reports to Muilenburg and James Bell, Boeing Executive Vice President and Chief Financial Officer. As BDS CFO, he is responsible for reporting on the financial performance of BDS and its 3 business segments: Boeing Military Aircraft, Network & Space Systems, and Global Services & Support.

Verbeck leads more than 6,000 global finance employees making up teams in financial planning and analysis, accounting, estimating, contracts and pricing, procurement financial analysis, integrated scheduling, rate forecasting, earned value management compliance, and productivity improvement.

Verbeck joined McDonnell Douglas, a Boeing heritage company, in 1986 in the Finance organization after working as a steelworker. He holds a bachelor's degree in economics from Southern Illinois University and a master's degree in international business from Saint Louis University (SLU). He has served as the Boeing executive focal for SLU and is currently a member of the advisory council for the university's Boeing Institute of International Business.