Boeing CEO Dave Calhoun, Other Senior Executives Announce Plans to Exit by Year-End After Series of Mishaps
Photo : PTI
The Boeing Company announced Monday a significant shakeup at its executive level as CEO Dave Calhoun, alongside other senior executives, disclosed plans to exit the embattled plane manufacturer by the year’s end, following a series of mishaps that have rocked the company.
According to an AP report quoted by news agency PTI, Calhoun’s decision to step down comes amidst heightened scrutiny of Boeing by the Federal Aviation Administration (FAA) after a string of incidents, including a recent door-panel blowout on an Alaska Airlines 737 Max aircraft. Investigators revealed that bolts crucial for securing the panel were missing after repair work at a Boeing factory near Seattle, prompting the FAA to order an audit of assembly lines at the facility.
In addition to Calhoun’s departure, Board Chair Larry Kellner has also informed the company of his decision not to seek re-election. The company further disclosed that Stan Deal, president and CEO of Boeing’s commercial airplanes unit, will retire, with Stephanie Pope slated to assume leadership of the division.
These developments mark a pivotal moment for Boeing, which has faced intense scrutiny since the tragic crashes of its 737 Max jets in 2018 and 2019, resulting in the loss of 346 lives. The company’s stock surged more than 2% in pre-market trading following the announcement, as per PTI report.
The upcoming leadership transition underscores Boeing’s efforts to navigate through a challenging period characterized by regulatory scrutiny and operational setbacks. As the company prepares for leadership changes, stakeholders closely watch to see how Boeing will address ongoing challenges and restore confidence in its operations.
