Boeing’s CEO Dave Calhoun to Resign

Boeing’s CEO and Key Executives Announce Resignations Amid Ongoing Challenges

Boeing has announced a major leadership shakeup, with CEO Dave Calhoun stating his intention to leave the company by the end of the year. In addition to Calhoun, the 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. Stan Deal, CEO of Boeing Commercial Airplanes, is retiring and Stephanie Pope, who is currently Boeing’s chief operating officer, 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 a recent incident involving an Alaska Airlines 737 Max in January. These problems have led to safety groundings and over $31 billion in cumulative losses. In a letter to employees, 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 was ousted during a time when Boeing was facing significant challenges due to a 20-month grounding of its flagship product and the ongoing pandemic which greatly impacted air travel. The story is still developing and updates will be made as new information becomes available.

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