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McDonnell Douglas Corporation was a major American aerospace manufacturing corporation and defense contractor, formed by the merger of McDonnell Aircraft and the Douglas Aircraft Company in 1967.
McDonnell management dominated the merged company. It was based at McDonnell's facility in St. Louis, with James McDonnell as chairman and CEO. [7] In 1967, with the merger of McDonnell and Douglas Aircraft, David Lewis, then president of McDonnell, was named chairman of what was called the Douglas Aircraft Division.
Douglas' commercial contracts would allow McDonnell to withstand any downturns in procurement. [23] Conversely, McDonnell had enough revenue to help solve Douglas' financial problems; soon after the merger was announced, McDonnell bought 1.5 million shares of Douglas stock to help Douglas meet "immediate financial requirements". [24]
The present corporation is the result of the merger of Boeing with McDonnell Douglas on August 1, 1997. As of 2023, the Boeing Company's corporate headquarters is located in the Crystal City neighborhood of Arlington County, Virginia. [9]
Quality and cash flow problems and DC-10 development costs, combined with shortages due to the Vietnam War, led Douglas to agree to a merger with McDonnell Aircraft Corporation to form McDonnell Douglas on April 28, 1967. Douglas Sr. served as honorary chairman of the McDonnell Douglas board until his death on February 1, 1981, at the age of 88 ...
But in 1997, Dorsey said that upper management was thrown into disarray upon Boeing’s merger with McDonnell Douglas, a major American aerospace and defense company before the acquisition.
After the merger, McDonnell executives took charge of the combined entity, and it was McDonnell’s financial management, under Stonecipher, that prevailed. "McDonnell Douglas bought Boeing with Boeing’s money" was a joke heard in Seattle. Stonecipher was said to refer to the company’s engineers as "arrogant". [13]
John F. McDonnell (born 1938) is an American businessman, engineer, and philanthropist. McDonnell served as the chairman of the McDonnell Douglas Corporation from 1988 until its merger with Boeing in 1997 and its chief executive officer from 1988 until 1994.