Boeing CEO Dave Calhoun to resign

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

Boeing’s CEO, Dave Calhoun, announced on Monday that he plans to leave the company by the end of the year. The company’s chairman and head of commercial airplanes are also departing. Larry Kellner, Boeing’s chairman, will not seek reelection as a board director and will be replaced by Steve Mollenkopf, former CEO of Qualcomm. Stan Deal, CEO of Boeing Commercial Airplanes, is retiring and will be replaced by Stephanie Pope, who has been Boeing’s chief operating officer since January.

Boeing has faced numerous 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 took leadership during a challenging period when he became chairman in late 2019 and CEO in January 2020. 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.

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