Transition at the Top
Boeing Co. BA CEO Dave Calhoun is set to resign by the end of 2024, marking a major leadership transition for the aerospace titan, the company reported on Monday.
A New Flight Plan
This announcement is part of a comprehensive management overhaul as the company seeks to navigate through the turbulent aftermath of the 737 Max crisis.
Words of Reflection
Calhoun, reflecting on his tenure, stated, “It has been the greatest privilege of my life to serve Boeing.” He emphasized the company’s commitment to surmounting its recent challenges, focusing on restoring stability, safety, and quality. “The eyes of the world are on us, and I know that we will come through this moment a better company,” Calhoun assured.
Chairman’s Departure
Alongside Calhoun’s planned departure, Boeing will see the resignation of its board chairman, Larry Kellner, who will officially leave his role at Boeing’s annual meeting in May. Kellner, who has been with the Boeing Board for 13 years, remarked that, “Serving this company, and our people, has been a true honor.”
New Leadership on Deck
Kellner’s successor as chair will be Steve Mollenkopf, a seasoned Boeing director since 2020 and former CEO at Qualcomm Inc. QCOM, bringing a fresh perspective to the board’s leadership amid the company’s ongoing challenges.
Firm Commitment
“I am honored and humbled to step into this new role,” he said, expressing his confidence in Boeing’s direction and commitment to upholding the highest standards of safety and quality.
Smooth Transitions
Boeing also announced the immediate departure of Stan Deal, the president and CEO of Boeing Commercial Airplanes. Stephanie Pope, recently appointed as Boeing’s chief operating officer and a former head of Boeing Global Services, is set to take over Deal’s responsibilities.
This sweeping management shakeup comes as Boeing faces intensified scrutiny from airlines and regulatory bodies, demanding substantial changes following several quality and manufacturing issues with Boeing planes.
Market Response
Shares of Boeing rose following the news, with gains reaching over 2% during the premarket trading on Monday.
Future Horizons
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