May 21, 2024 12:32 pm
Boeing’s CEO Dave Calhoun to Resign

Boeing CEO, Dave Calhoun, has announced a major shakeup of the company’s leadership. In a letter to employees, he announced his intention to leave by the end of the year. Along with Calhoun, the company’s chairman and head of the commercial airplane unit are also departing. Larry Kellner, Boeing’s chairman, will not stand for re-election as a board director, and Steve Mollenkopf, former Qualcomm CEO, will succeed him. In addition, Stan Deal, CEO of Boeing Commercial Airplanes, is retiring and Stephanie Pope will take his place immediately.

Boeing has faced significant challenges over the last five years including fatal crashes of the 737 Max in 2018 and 2019 and recent incidents involving an Alaska Airlines 737 Max in January. These problems have led to safety groundings and over $31 billion in cumulative losses. In a statement regarding these challenges Calhoun referred to the Alaska Airlines incident as “a watershed moment,” emphasizing the need to fix what isn’t working and get the company back on track.

Calhoun became chairman in late 2019 and CEO in January 2020 after his predecessor Dennis Muilenburg was ousted amidst a 20-month grounding of the 737 Max and the onset of COVID-19 pandemic which greatly impacted air travel and Boeing’s financial stability. The story is still developing and will be updated as new information becomes available.

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