CAMBRIDGE, Mass.--(BUSINESS WIRE)--MIT Sloan School of Management recently announced the establishment of the Philip M. Condit (1975) Fellowship. Funded with a $500,000 gift from alumnus Philip Condit, Sloan Fellow ’75 and former president, CEO and chairman of the board of Boeing, the Fellowship will support graduate students, with a preference for MBA students from Texas. Condit created the Fellowship to enhance the visibility of MIT Sloan among Texans, encourage students from Texas to apply, and support the growth of a robust alumni network in that state.
Condit says, “My wife Geda and I believe in life-long education and we hope that this fellowship opens the door for a hard-working individual to achieve their dreams and become part of our country’s future success. As Texas residents, we would like to offer this opportunity to an aspiring individual who can impact Texas and the United States.”
Condit first joined Boeing in 1965 as an aerodynamics engineer on the Supersonic Transport Program, quickly rising to other positions in the company, such as lead engineer for the Boeing 747 and manager of 727 marketing. After completing the MIT Sloan Fellows Program in 1975, he returned to Boeing as manager of new program planning. Following several promotions, he served in vice president positions throughout the company.
In 1992, Condit was elected president and a member of the board of directors. He became CEO in 1996 and chairman of the board in 1997. Leading Boeing through several mergers and acquisitions, he helped transform the company into a global enterprise before retiring in 2004.
In addition to his years of service at Boeing, Condit is recognized for his dedication to community service. A Distinguished Eagle Scout Award winner, he served as president of the Chief Seattle Council of the Boy Scouts of America and currently sits on the national board. He received the Aerospace Industry Distinguished Good Scout Award from the Boy Scouts of America, Los Angeles Area Council in 1999 for his volunteer efforts.
An alumnus of MIT Sloan, Condit also holds a bachelor’s degree from the University of California at Berkeley, a master’s degree from Princeton University, and a doctorate from the Science University of Tokyo.
For more information on Philip M. Condit, please visit: http://www.boeing.com/boeing/history/boeing/condit.page