Boeing Capital's Mike Cave to retire

Boeing executive Mike Cave, president of Boeing Capital Corporation, the company’s product financing unit, announced that he will retire on May 1st. Marc Allen, Boeing China president, will replace Cave, effective March 14th. Cave who also serves as a Boeing senior vice president, has led Boeing Capital since January 2010. The unit is responsible for arranging, structuring and providing financing for Boeing’s commercial airplane, defense and space products. Cave, a 31-year Boeing veteran, previously served as Boeing’s senior vice president of Business Development & Strategy and held key leadership positions including chief financial officer of Commercial Airplanes and vice president, Finance, for Boeing Information, Space & Defense Systems.