Boeing fired its Chief Executive Harry Stonecipher, citing that his affair with a female executive broke company rules and damaged his leadership abilities.

"As we explored the circumstances we felt there were some issues of poor judgment that would impair his ability to lead," Chairman Lewis Platt said on the conference call.

Stonecipher, 68, is the second Boeing CEO to leave in 15 months. He is married with two children and two grandchildren.

A former Boeing president, Stonecipher was asked to come out of retirement to take the reins in December 2003 after the company came under scrutiny for its hiring of a former Air Force procurement official.

Source: Reuters