Boeing CEO To Step Down

( – David Calhoun, the CEO of Boeing will be leaving the company at the end of the year as part of the plane manufacturer’s larger executive shakeups following a series of recent mishaps, the Associated Press reported.

In a March 25 statement, Boeing said Calhoun would remain in his position until the end of the year to help the company “complete the critical work underway to stabilize and position” Boeing’s future.

In addition to Calhoun’s departure, Boeing announced that the CEO and president of its commercial airplanes unit Stan Deal would be retiring effective immediately. Boeing’s Chief Operating Officer Stephanie Pope will be stepping in to replace him.

Additionally, Chairman of the Board Lawrence Kellner will not be standing for reelection when the board meets in May.

David Calhoun took over as CEO four years ago to stabilize the company after former CEO Dennis Muilenburg was fired following the two fatal crashes of Boeing aircraft in Indonesia and Ethiopia in 2018 and 2019 that killed over 340. The investigation into the crashes resulted in a deferred prosecution deal with the Justice Department under which Boeing paid more than $2.5 billion in penalties.

Boeing has been under intense scrutiny since a door panel blew off of an Alaska Airlines 737 Max jet on January 5. A subsequent investigation by the National Transportation Safety Board found that the bolts holding the panel in place were not replaced after the plane underwent repairs at the Boeing factory.

In early March, the Washington Post reported that the Justice Department had opened a probe into the Alaska Airlines blowout, and a grand jury had been empaneled to examine evidence.

In a memo to Boeing employees on Monday, Calhoun described the January 5 incident as a “watershed moment” for the company that would require “a total commitment to safety and quality at every level.”

In his memo, Calhoun said that it was his decision to step down at the end of the year.

Boeing said the company board had chosen former Qualcomm CEO Steven Mollenkopf to lead the search for Calhoun’s replacement.

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