• Thu. May 30th, 2024

Boeing CEO Dave Calhoun to resign

Byeditor

Mar 25, 2024

In a major shakeup of Boeing’s leadership, CEO Dave Calhoun announced on Monday his intention to leave the company by the end of the year. The company’s chairman and the head of the commercial airplane unit are also departing.

Boeing’s chairman, Larry Kellner, will not seek reelection as a board director. Former Qualcomm CEO Steve Mollenkopf has been elected to succeed him. Additionally, Stan Deal, the CEO of Boeing Commercial Airplanes, is retiring. Stephanie Pope, Boeing’s chief operating officer since January, will assume his position with immediate effect.

Boeing has faced challenges for over five years, including two fatal crashes of the 737 Max in 2018 and 2019 that resulted in 346 fatalities. Most recently, an Alaska Airlines 737 Max experienced a door plug blowout in January, causing a significant hole in the side of the plane. These issues have led to multiple groundings and more than $31 billion in cumulative losses.

In a letter to Boeing employees, Calhoun called the Alaska Airlines incident a “watershed moment for Boeing.” He emphasized the importance of fixing issues, regaining stability, and restoring the company’s reputation.

Calhoun, who became chairman of Boeing in late 2019 and CEO in January 2020, took leadership during a challenging period. His tenure included a 20-month grounding of the 737 Max due to a design flaw and the onset of the Covid-19 pandemic, which severely impacted air travel and Boeing’s customers.

This is an ongoing story and will be updated as more information becomes available.

By editor

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