Boeing CEO Dennis Muilenberg to replace retiring chairman Jim McNerney

Boeing CEO Dennis Muilenberg, who began his career as intern at the aerospace company, will succeed Chairman Jim McNerney when he retires March 1, the company announced Monday.

Muilenburg, 52, earlier succeeded McNerney as Boeing's 10th chief executive and joined the board last July. McNerney, 66, continued as chairman at that time but announced his intent to retire from the company later this month. McNerney served as chairman for a decade.

Muilenberg was Boeing president and CEO from 2013 to 2015, sharing day-to-day oversight with McNerney, the company said. Before that, Muilenberg was president and CEO of Boeing Defense, Space and Security.

Muilenburg joined the company in 1985 as an engineering intern in Seattle. He earned a bachelor's degree in aerospace engineering from Iowa State University and a master's in aeronautics and astronautics from the University of Washington.

McNerney joined the Boeing board in 2001 and was elected chairman in 2005.