Boeing CEO To Step Down At End Of The Year

Boeing CEO David Calhoun will step down from the embattled plane maker at the end of the year as part of a broad management shakeup Monday after a series of mishaps at one of America’s iconic manufacturers.

Stan Deal, president and CEO of Boeing’s commercial airplanes unit, will retire immediately. Stephanie Pope, the company’s chief operating officer for less than three months, has taken over leadership of the key division.

The company said board Chairman Lawrence Kellner, a former airline chief, won’t stand for re-election in May and will be replaced by a former Qualcomm CEO.

Boeing has been under intense pressure since early January, when a panel blew off a brand-new Alaska Airlines 737 Max. Investigators say bolts that help keep the panel in place were missing after repair work at the Boeing factory.

The Federal Aviation Administration has stepped up its scrutiny of the company, including putting a limit on production of 737s. An FAA audit of Boeing’s 737 factory near Seattle gave the company failing grades on nearly three dozen aspects of production. Boeing has until late May to give FAA a plan for improvement.

Airline executives have expressed their frustration with the company, and even minor incidents involving Boeing jets have attracted extra attention.

Scrutiny of the company has reached its highest level since two Boeing 737 Max jets crashed in 2018 in Indonesia and 2019 in Ethiopia. In all, the crashes killed 346 people.

In a note Monday to employees, Calhoun, 67, called the Alaska Airlines blowout a “watershed moment for Boeing.” that requires a ”total commitment to safety and quality at every level of our company.”

“The eyes of the world are on us, and I know we will come through this moment a better