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Boeing CEO Dave Calhoun to Step Down at End of 2024
Board Raises Mandatory Retirement Age, Calhoun Signals Readiness to Retire
Airline Bosses Revolt Contributed to Leadership Overhaul
Boeing CEO Dave Calhoun has announced his plans to retire at the end of 2024. This announcement comes after the company's board raised the mandatory retirement age and the board's supportive stance towards Calhoun evaporated.
The board's decision has been met with mixed reactions. Some believe that Calhoun's departure is a necessary step for Boeing to move forward and regain public trust. Others believe that Calhoun's experience and leadership are still essential for the company's recovery.
The ouster of Boeing CEO Dennis Muilenburg in 2019 and the subsequent decision to appoint Calhoun as Chairman were driven by a revolt by US airline bosses, who demanded changes in the company's leadership and culture following the 737 Max crashes.
Calhoun has faced significant challenges during his tenure as CEO, including the COVID-19 pandemic and supply chain disruptions, in addition to the ongoing investigations into the 737 Max crashes.
Despite these challenges, Calhoun has expressed confidence in Boeing's future and has thanked the board for their support during his time as CEO. The search for Calhoun's successor has already begun, and the board plans to announce a new CEO by the end of the year.
Newsweek
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