As Boeing CEO Dave Calhoun prepares to step down from his position at the year’s end, the plane manufacturer, facing scrutiny amid multiple mishaps, anticipates further changes in key leadership roles as part of its restructuring efforts.
Boeing CEO Dave Calhoun is set to depart the troubled aircraft manufacturer by year’s end, according to the company’s recent announcement.
Calhoun’s departure comes amidst a string of setbacks and is part of a larger reorganization in response to the company’s extensive safety concerns following a mid-air incident involving a 737 MAX plane in January. Board Chair Larry Kellner has also indicated he will not seek re-election.
Additionally, Stan Deal, the current president and CEO of Boeing’s commercial airplanes unit, will retire from the company. Stephanie Pope is slated to take over leadership of the division.
Boeing faces heightened scrutiny from American aviation regulators, with recent orders for an audit of assembly lines at a factory near Seattle, where planes like the Alaska Airlines 737 Max, involved in the January incident, are manufactured. Investigations revealed missing bolts crucial for panel stability, further complicating Boeing’s safety challenges.
Allegations from former Boeing employees suggest that production deadlines have led to quality compromises, raising concerns about safety standards.
The recent incident marks the most significant scrutiny on Boeing since the tragic crashes of 737 Max jets in 2018 and 2019, resulting in 346 fatalities.
Despite these challenges, Boeing shares experienced a modest increase before the market opened.
A group of US airline CEOs have sought meetings with Boeing directors, expressing frustration over the recent incident and broader concerns regarding the manufacturer’s issues.
Furthermore, Boeing is reportedly in discussions to acquire its former subsidiary, Spirit AeroSystems.
The ongoing crisis has exacerbated difficulties for airlines already contending with delivery delays from both Boeing and its competitor, Airbus. Additionally, Boeing’s cash burn rate in this quarter has exceeded expectations, adding further financial strain.
