Smiley face
Weather     Live Markets

Boeing announced a major shakeup on Monday, with CEO Dave Calhoun and the head of the commercial airplane division, Stan Deal, both stepping down. Calhoun, who has been CEO since 2020, was appointed in the midst of a crisis following two crashes of its best-selling 737 MAX narrowbody. The company has faced renewed doubts about the safety of its planes after a recent incident involving an Alaska Airlines 737 MAX.

Boeing’s board chair Larry Kellner has also stepped down and will not run for reelection. The board elected Steve Mollenkopf, the former CEO of Qualcomm, as chairman and will now begin the search for a replacement for Calhoun. It is likely that the board will look outside the company for Boeing’s next CEO, as they seek someone with a strong operational background to boost confidence in Boeing’s manufacturing operations.

Several names have been discussed in the industry as potential candidates to replace Calhoun, including Lawrence Culp, who has led General Electric since 2018, David Gitlin, who currently runs Carrier, Pat Shanahan, the former Spirit CEO and longtime Boeing executive, Kathy Warden, CEO of Northrop Grumman, and Stephanie Pope, who was recently promoted to run Boeing’s commercial airplane division. Another wild-card candidate is Delta Air Lines CEO Ed Bastian.

The search for Boeing’s next CEO comes as the company faces challenges with manufacturing quality and safety concerns. The new CEO will need to address these issues and restore investor confidence in the company. The decision to look outside the company for a new CEO reflects the need for fresh leadership and a new approach to tackling Boeing’s ongoing challenges.

As Boeing moves forward with its leadership changes, the board will be looking for a candidate who has the ability to improve manufacturing quality and address operational issues. The new CEO will need to navigate the company through a difficult period and prioritize safety and quality in order to rebuild trust with investors and customers. The search for a new CEO is expected to be a challenging process, with industry experts emphasizing the need for a strong operational background in the candidate.

Overall, Boeing’s leadership shakeup signals a new chapter for the company as it seeks to address its quality and safety issues. The search for a new CEO will be a critical step in Boeing’s efforts to rebuild confidence and move forward with a focus on improving manufacturing operations and restoring the company’s reputation in the aerospace industry.

© 2024 Globe Echo. All Rights Reserved.