Boeing CEO Dave Calhoun Announces Departure as Part of Company Shakeup
In a surprising move, Boeing CEO Dave Calhoun has announced that he will be stepping down at the end of 2024 as part of a broader management shake-up at the embattled aerospace giant. This announcement comes on the heels of a series of changes within the company, including the resignation of Larry Kellner, chairman of the board, who will not stand for re-election at Boeing’s annual meeting in May.
The board will be led by Steve Mollenkopf, who has been a Boeing director since 2020 and is a former CEO of Qualcomm. Mollenkopf will oversee the selection of a new CEO to replace Calhoun. Additionally, Stan Deal, president and CEO of Boeing Commercial Airplanes, is leaving the company with immediate effect. Stephanie Pope, who recently became Boeing’s chief operating officer, will be taking over Deal’s responsibilities.
These changes come amid increased pressure from airlines and regulators for Boeing to make significant improvements following a series of quality and manufacturing issues with Boeing planes. The scrutiny has intensified since a recent incident involving a door plug blowing out of a nearly new Boeing 737 Max just minutes into an Alaska Airlines flight.
In a message to employees, Calhoun acknowledged the importance of addressing the recent challenges facing the company and emphasized the need for transparency and a renewed commitment to safety and quality. He expressed confidence that Boeing will emerge from this difficult period stronger and better equipped to meet the demands of the industry.
Calhoun’s decision to step down was described as “100%” his own, signaling a commitment to implementing necessary changes and addressing ongoing challenges within the company. Since taking over as CEO in early 2020, Calhoun has been working to address Boeing’s quality struggles and restore confidence in the company.
The Federal Aviation Administration has increased oversight of Boeing in response to recent incidents, and the company has faced delays in delivering new planes to customers. Boeing’s stock has seen a decline this year, with shares down 26% so far.
Despite these challenges, some airline executives have voiced support for the management changes at Boeing. Ryanair CEO Michael O’Leary praised the shift in leadership, while United Airlines CEO Scott Kirby expressed concerns about production delays and quality control issues.
As Boeing navigates these changes and works to regain trust and stability, the industry will be closely watching to see how the company adapts to these new developments. Stay tuned for more updates on this developing story.
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