Boeing: CEO Calhoun to bounce at year’s end as woes weigh America’s top aircraft manufacturer

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Boeing Chief Executive Officer Dave Calhoun will leave the company at the end of the year, the Renton, Wash.-based aircraft manufacturer said on Monday. Calhoun has been CEO of the company since January, 2020.

The company is embroiled after several mishaps with its aircraft have made the news this year. And it’s not just Calhoun who is leaving.

Board Chairman Larry Kellner has informed the board he will not stand for re-election at the upcoming Annual Shareholder meeting, which has not been announced but is believed by Must Read Alaska to be April 30. The board elected Steve Mollenkopf to succeed Kellner as independent board chair. Mollenkopf will lead the board’s process of selecting Boeing’s next CEO.

Calhoun will stay on until the end of the year to ensure a stable transition.

Stan Deal, president and CEO of Boeing Commercial Airplanes, will retire from the company. Stephanie Pope, chief operating officer of The Boeing Company with responsibility for overseeing the performance of Boeing’s three business units, has been appointed to lead BCA, effective Monday.

The shakeup comes after a Jan. 5 incident in which a door plug blew off of a Boeing 737-9 MAX while it was in flight. The preliminary report from the National Transportation Safety Board said it was an incorrectly installed door plug that was missing its bolts. Although the plane safely landed and injuries were minor, it drew attention to the work quality at Boeing. The FAA inspection of the facility resulted in a report that cast doubts on the quality controls at Boeing.

The damage to the company’s reputation after the door-plug failure in January has been dramatic. Boeing stock shares lost about one-quarter of their value. After Monday’s announcement they popped up 2.3% in early morning trading, and have held in the positive territory, now trading at $191.20 per share.

The iconic Boeing 737s are the jets most Alaskans fly on as they are coming and going from the state and flying from hub communities inside Alaska. They are the workhorse of the Alaska Airlines fleet, which dominates state travel options. Alaska Air Group has a fleet of 231 Boeing 737 aircraft, with an average age of 9.7 years. Southwest Airlines has the world’s largest fleet of 737s, with 820 of the narrow-body aircraft.

8 COMMENTS

  1. The next CEO: Experienced aviation industry white guy engineer? Or black lesbian climate crusader? My guess is that they will check the DEI box. And we Alaskans will fly less, out of fear.

  2. Something IMO lost in this equation is maybe just maybe the 737-XXX were perfectly airworthy and viable when delivered….at what point is a good design and sound engineering practice (which Boeing may or may not have supplied) sacrificed on the altar of cheap and fast maintenance by the operator?

  3. Liberal leadership sends aviation giant Boeing crashing to the ground.
    Oh well, Brandon and the dems will come up with a bailout for the aviation industry by years end in addition to the new bridge the taxpayers will be bilked out of another billion dollars for. At least this ones America and not in Ukraine this time.

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