Current:Home > reviewsAfter tumultuous 5 years for Boeing, CEO will depart as part of broader company leadership shakeup -AssetTrainer
After tumultuous 5 years for Boeing, CEO will depart as part of broader company leadership shakeup
View
Date:2025-04-17 19:05:47
The top executive at embattled plane maker Boeing will step down this year amid a broader shakeup of the company’s top leadership, capping a tumultuous five plus years that has shaken faith in one of America’s most storied manufacturers.
The company has come under intense scrutiny over its manufacturing process since a pair of its marquee aircraft crashed, killing hundreds of people in late 2018 and 2019 in Indonesia and Ethiopia.
Those problems have snowballed and the Federal Aviation Administration recently ordered an audit of assembly lines at a Boeing factory near Seattle, where the company builds planes like the Alaska Airlines 737 Max that suffered a door-panel blowout on Jan. 5. Investigators say bolts that help keep the panel in place were missing after repair work at the Boeing factory.
Boeing CEO Dave Calhoun will step down from the embattled plane maker at the end of the year. Calhoun took over the company after CEO Dennis Muilenburg was ousted following the two crashes.
Board Chair Larry Kellner has also told the company he doesn’t plan to stand for re-election.
Boeing also said Monday that Stan Deal, president and CEO of its commercial airplanes unit, will retire from the company. Stephanie Pope will now lead the division.
Boeing is also under intense pressure from the CEOs of various airlines, who have been outspoken in their frustration with Boeing’s manufacturing problems, which have slowed deliveries of planes that the carriers were counting on.
Southwest Airlines recently said that it was reevaluating its financial expectations for this year because of related delays in the delivery of planes.
“As we begin this period of transition, I want to assure you, 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,” Calhoun wrote in a letter to employees.
Calhoun acknowledged that Alaska Airlines Flight 1282 was a “watershed” moment for Boeing.
“We must continue to respond to this accident with humility and complete transparency. We also must inculcate a total commitment to safety and quality at every level of our company,” he said.
The board has elected Steve Mollenkopf to succeed Kellner as independent board chair. In this role, Mollenkopf will lead the board’s process of choosing Boeing’s next CEO.
Shares rose 4% before the market open.
veryGood! (944)
Related
- Appeals court scraps Nasdaq boardroom diversity rules in latest DEI setback
- Man behind gender reveal that sparked El Dorado fire in Southern California pleads guilty
- New Orleans’ Carnival season marks Fat Tuesday with celebrities and pretend monarchs
- The best and worst Super Bowl commercials of 2024: Watch this year's outlier ads
- SFO's new sensory room helps neurodivergent travelers fight flying jitters
- House GOP will try again to impeach Mayorkas after failing once. But outcome is still uncertain
- House votes — again — on impeachment of Homeland Security secretary. Here’s what you should know
- Jon Stewart’s return to ‘The Daily Show’ felt familiar to those who missed him while he was away
- California DMV apologizes for license plate that some say mocks Oct. 7 attack on Israel
- Gen Zers are recording themselves getting fired in growing TikTok trend
Ranking
- 'No Good Deed': Who's the killer in the Netflix comedy? And will there be a Season 2?
- Rare Oregon plague case caught from a cat. Here's what to know about symptoms and how it spreads.
- Can AI steal the 2024 election? Not if America uses this weapon to combat misinformation.
- Dakota Johnson Bares All in Sheer Crystal Dress for Madame Web Premiere
- Arkansas State Police probe death of woman found after officer
- Jennifer Lopez Reveals Ayo Edibiri Tearfully Apologized for Her Past Comments
- A widow opened herself up to new love. Instead, she was catfished for a million dollars.
- Shots can be scary and painful for kids. One doctor has a plan to end needle phobia
Recommendation
Sarah J. Maas books explained: How to read 'ACOTAR,' 'Throne of Glass' in order.
Fired Northwestern coach wants to move up trial, return to football soon
'You don't mess with Bob': How Kingsley Ben-Adir channeled Bob Marley for 'One Love' movie
Jon Stewart returns to host 'The Daily Show': Time, date, how to watch and stream
San Francisco names street for Associated Press photographer who captured the iconic Iwo Jima photo
Super Bowl overtime means 6 free wings from Buffalo Wild Wings: Here's when to get yours
Royal Caribbean Passenger Dies Aboard 9-Month Ultimate World Cruise
A big tax refund can be a lifesaver, but is it better to withhold less and pay more later?