Boeing CEO Dave Calhoun has announced his resignation amidst the ongoing 737 MAX crisis, signaling a significant top management shakeup at the aerospace giant.

While Calhoun will continue leading the company until the end of 2024, his decision comes amid mounting pressure following a series of setbacks, including the recent incident involving an Alaska Airlines flight. This departure coincides with the retirement of Boeing Commercial President and CEO Stan Deal, who is succeeded by Stephanie Pope, the current Chief Operating Officer.

The announcement, made by Larry Kellner, boeing products chairman, outlines a broader restructuring within the company’s leadership. Steve Mollenkopf, a Boeing director since 2020 and former CEO of Qualcomm, will take over as chairman and lead the board in selecting a new CEO. This strategic move comes at a critical juncture as boeing airplanes
faces intense regulatory scrutiny and production constraints due to safety and quality issues.

The market’s initial response to the news was positive, with Boeing’s shares rising by 2 percent before regular trading. However, the boeing aircraft company stock had experienced a significant decline earlier in the year, reflecting investor concerns about boeing distribution aviall the ongoing challenges and uncertainties surrounding the 737 MAX program.

Calhoun stressed the company’s commitment to transparency, safety, and quality in a letter to employees.“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 eyes of the world are on us, and I know we will come through this moment a better company, building on all the learnings we accumulated as we worked together to rebuild Boeing over the last number of years.”

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