Succeeding Bell as CFO will be Greg Smith, now Boeing's corporate controller. Smith, 45, is taking over on Feb. 1, working with Bell "to ensure a smooth transition," .

Boeing also said that Diana Sands, its vice president of investor relations and financial planning and analysis, would become controller. The appointment of Sands, 46, also is effective Feb. 1.

Bell's retirement "has been discussed for some time," Robert Stallard, a New York-based analyst at RBC Capital Markets who rates Boeing shares "outperform," wrote in a note to investors that was quoted in a Bloomberg News report on the move. "This should be a trouble-free transition. It also marks another step in the generational hand-over at Boeing."

Smith, himself a 20-year Boeing veteran, previously has headed Boeing's financial planning and analysis group, and its internal audit group, and served as controller for Boeing Shared Services Group, among other positions. From 2004 to 2008, he headed investor relations for aerospace firm Raytheon Co.