The Boeing board of directors has elected Leanne Caret president and chief executive officer of the company's Defense, Space & Security business effective March 1. She will succeed Chris Chadwick, who has announced his retirement from the company.

Caret, 49, a 28-year company veteran, currently leads that unit's Global Services & Support business, which has approximately 13,000 employees in 295 locations around the world.

Chadwick, 55, retires this spring after a 34-year career that included a range of senior executive roles. He has led the $30-billion Defense, Space & Security unit since December 2013, after previously leading its Military Aircraft business.

Ed Dolanski, 48, will succeed Caret as president of Global Services & Support. Dolanski is currently president and chief executive officer of Boeing subsidiary Aviall.

In addition to becoming CEO of the Defense, Space & Security organization, Caret also becomes a Boeing executive vice president and joins the company's executive council.