Boeing CEO to quit in overhaul sparked by Max safety crisis

Mar25,2024



Boeing announces sweeping changes to its leadership, including its CEO security crisis Has increased rapidly in recent months.
ceo dave calhoun Will step down as president at the end of 2024 Larry Kellner Boeing said in a statement Monday that he will not run for re-election. Stan Deal, who led Boeing's commercial airplane division, will also retire effective immediately. COO Stephanie Pope will take over Deal's role, the company said.
overhaul It reflects growing customer frustration with Calhoun and the deal as the crisis focused on the plane maker's manufacturing quality and safety shows no signs of abating. Kellner, Calhoun and Deal mark the most high-profile departures since a disastrous incident in January in which a 737 Max jetliner grounded a 737 Max jetliner plunged Boeing into ever-deeper turmoil.
Doubts had grown over whether Calhoun and Deal would keep their jobs after the Alaska Airlines incident, but questions over their leadership reached a fever pitch last week when CEOs of major airlines bypassed Calhoun and asked to meet directly with the board of directors. demanded.
“This is probably a wise move by the Boeing board of directors,” Robert Stallard, an analyst at Vertical Research Partners, told clients on Monday. “Many of Boeing's customers, suppliers and other stakeholders have arguably lost confidence in the company, while its relations with the FAA and NTSB are clearly strained.”
A sweeping audit of Boeing and its suppliers by the US Federal Aviation Administration has raised concerns about the company's safety culture, the agency's top official said last week. Boeing's stock has fallen 28% this year through March 22, the worst performance in the Dow Jones index.
Calhoun, a longtime Boeing director and veteran of General Electric and Blackstone Group, stepped into the top role in early 2020 as the plane maker grappled with the global grounding of the 737 Max following two crashes.



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