Insitu Chief Executive Sliwa Retiring April 1

BINGEN, Wash. (AP) - The chief executive of Insitu plans to retire April 1 after 10 years with the Bingen, Wash.-based company that makes unmanned aircraft.

The Oregonian reports that Steve Sliwa expanded the company to more than 700 workers, reaching $128 million in annual sales in 2008, when Boeing acquired it as a subsidiary.

Company spokeswoman Jill Vacek says Insitu plans to hire a replacement soon.

The company was founded in 1994. It has developed and produced aircraft such as the ScanEagle, a 40-pound aircraft used for surveillance, search and rescue, mapping, mineral exploration and research.

Insitu has said it's looking for a Columbia Gorge site to consolidate some of its 20-plus Gorge-area locations into a single corporate campus.




Live Video

Market Data

Watch CBSN Live

Watch CBS News anytime, anywhere with the new 24/7 digital news network. Stream CBSN live or on demand for FREE on your TV, computer, tablet, or smartphone.

Watch Now

Market News

Stock Watchlist

New Android App

For your Android phone and tablet, download the FREE redesigned app, featuring CBSN, live 24/7 news.