It has been announced by Boeing in the last hour that their CEO Dave Calhoun will step down at the end of 2024.
There have been some additional management changes at the high level revealed today as well.
Without further ado, let’s get into it…
Dave Calhoun To Step Down…
Via an extensive press release today, Boeing have confirmed that CEO Dave Calhoun will step down at the end of 2024.
It is understood that he will continue to lead the company “through the year to complete the critical work underway to stabilize and position the company for the future.”
Commenting on his departure, Calhoun said:
“It has been the greatest privilege of my life to serve Boeing,”
“The eyes of the world are on us, and I know that we will come through this moment a better company.”
“We will remain squarely focused on completing the work we have done together to return our company to stability after the extraordinary challenges of the past five years, with safety and quality at the forefront of everything that we do.”
Furthermore, this is major news, especially given what is going on with the 737 MAX at present.
Other Changes To Management…
There have been other changes mentioned by Boeing this week, as well as the departure of their CEO.
The CEO of the Commercial Airplanes wing, Stan Deal will retire at the end of the year.
Furthermore, Stephanie Pope has been named as the CEO of the wing of the American planemaker.
The Board Chair Larry Kellner has also said he will not stand for re-election at the upcoming Annual Shareholder Meeting.
Furthermore, Steve Mollenkopf has been selected to succeed Kellner as the independent board chair.
A New Reset for Boeing?
Such moves could be seen as a management reset for Boeing in the wake of the 737 MAX incident.
Furthermore, it is interesting that the movement of CEO Dave Calhoun isn’t instantaneous, as with Stan Deal too.
Looking ahead, all eyes will be on what follows from this.
This comes as the American planemaker aims to move away from this continued issue with the aircraft.
The next 12 months will be fascinating to watch, that’s for sure.
