Boeing's Dave Calhoun to step down as CEO at the end of year

ARLINGTON, Va. -- In large shakeup of Boeing's leadership, CEO Dave Calhoun said Monday helium intends to permission the beleaguered institution by the extremity of the year. The company's president and caput of the commercialized airplane portion are besides leaving.

Boeing's chairman, Larry Kellner, volition not basal for re-election arsenic a committee director. The committee has elected erstwhile Qualcomm CEO Steve Mollenkopf to win him.

The institution besides announced that Stan Deal, CEO of Boeing Commercial Airplanes, is retiring. Stephanie Pope, Boeing's main operating serviceman since January, is taking his spot effectual immediately.

Boeing has been buffeted by much than 5 years of problems with its airplanes, including 2 fatal crashes of the 737 Max successful 2018 and 2019 that killed 346 people, and astir precocious a doorway plug that blew retired of the broadside of an Alaska Airlines 737 Max successful January, leaving a gaping spread successful the broadside of the plane. The problems person led to aggregate groundings for information issues and much than $31 cardinal successful cumulative losses.

In a missive to Boeing employees Monday, Calhoun called the Alaska Airlines incidental "a watershed infinitesimal for Boeing."

"The eyes of the satellite are connected us," helium said successful announcing his departure plans. "We are going to hole what isn't working, and we are going to get our institution backmost connected the way towards betterment and stability."

Calhoun, 66, a longtime committee subordinate astatine Boeing, became president of the institution successful precocious 2019, erstwhile the committee stripped his predecessor Dennis Muilenburg of that title. He was tapped arsenic CEO aft Muilenburg was ousted successful December of that year, starting successful the occupation successful January 2020.

Calhoun's tenure began astir halfway done a 20-month grounding of the 737 Max owed to a plan flaw that was determined to person caused the 2 crashes; and conscionable earlier the Covid pandemic broke retired globally, causing a adjacent halt successful aerial question and monolithic losses for the airlines Boeing depends upon to bargain its planes.

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