The Boeing Company (/ˈboʊ.ɪŋ/) is an American multinational corporation that designs, manufactures, and sells airplanes, rotorcraft, rockets, satellites, and missiles worldwide. The company also provides leasing and product support services. Boeing is among the largest global aircraft manufacturers; it is the second-largest defense contractor in the world based on 2015 revenue, and is the largest exporter in the United States by dollar value. Boeing stock is a component of the Dow Jones Industrial Average. The original Boeing was founded by William Boeing on July 15, 1916. The current Boeing is the result of merger of the original Boeing with McDonnell Douglas in August 1997. Former Boeing's chairman and CEO Philip M. Condit continued as the chairman and CEO of the new Boeing, while Harry Stonecipher, former CEO of McDonnell Douglas, became the president and chief operating officer of the newly merged company.