Boeing Co. announced Monday radical changes in its management, with the departure of the executive director, the head of the commercial aircraft division and the president of the board of directors, at a time when the company faces a crisis focused on its most important product, the 737 Max passenger plane.
Executive Director, Dave Calhoun will leave the company at the end of 2024while the president of the board of directors, Larry Kellnerwill not run for re-election, Boeing said in a statement. Stan Deal, who heads Boeing’s commercial aircraft division, will retire immediately. The director of operations, Stephanie Popewill assume Deal’s duties, the company reported.
Stay informed with our Whatsapp channel.
Calhoun, former head of Boeing and veteran of General Electric Co. and Blackstone Group LP, ends his tenure as CEO dealing with the consequences of the crises involving the 737 Max, the American manufacturer’s best-selling aircraft.
Boeing accused of stealing technology to use in rockets and planes
The changes occur in the midst of a growing customer frustration with Calhoun and Deal, as a crisis centered on the planemaker’s manufacturing quality and safety shows no signs of abating nearly three months after a fuselage panel detached from a 737 Max in flight in January.
A comprehensive audit of Boeing and its suppliers by the United States Federal Aviation Administration generated concern for the company’s safety culture, as declared last week by the head of the organization.
Market reaction
Boeing shares rose 4% to 9:05 a.m. Monday, before regular operations in New York. The stock had fallen 28% this year through March 22, the worst performance on the Dow Jones Industrial Average.
Under Calhoun’s direction, Boeing returned the 737 Max to commercial service in 2020, after a prolonged global shutdown following two accidents in quick succession. Just as the planemaker was rebuilding its reputation and preparing to once again deliver its popular 737 to China, on January 5, an Alaska Airlines 737 Max 9 lost a fuselage panel in flight, plunging the company back into chaos. .
Translation by Paulina Munita.
LM