Boeing CEO Dave Calhoun has announced his decision to step down, marking a pivotal moment for the aircraft manufacturer amidst ongoing production challenges and safety concerns. In a statement issued on Monday, Boeing outlined Calhoun’s plan to remain in his role until the end of 2024, emphasizing the need to oversee essential initiatives aimed at stabilizing the company and positioning it for future success.
In addition to Calhoun’s announcement, Boeing revealed that board chair Larry Kellner will not seek reelection at the upcoming annual shareholder meeting. Former Qualcomm CEO Steve Mollenkopf has been elected to succeed Kellner as independent board chair and will lead the board in the selection of Boeing’s next CEO.
Calhoun’s departure comes four years after assuming the CEO position with the mandate to restore stability following the tragic crashes of Boeing aircraft in 2018 and 2019. The management shakeup follows regulatory scrutiny triggered by a mid-air incident involving a door panel on one of Boeing’s 737 Max 9 planes.
The recent mid-air incident involving a Boeing 737 Max 9 jetliner has intensified scrutiny of Boeing’s operations, echoing concerns raised after the previous crashes. Airline executives have voiced frustrations, underscoring the significance of even minor incidents involving Boeing aircraft.
In a note to employees, Calhoun characterized the Alaska Airlines incident as a “watershed moment,” emphasizing the need for unwavering commitment to safety and quality across all levels of the organization. With Calhoun’s departure, the search for a new CEO is underway, with an emphasis on selecting an executive capable of navigating the complexities of the aerospace industry and guiding Boeing’s future endeavors.
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