Boeing CEO Dave Calhoun will step down at the end of 2024 as part of a broad management shake-up for the embattled aerospace giant.
CEO Resignation: Boeing’s CEO, Dave Calhoun, is stepping down at the end of 2024 amidst ongoing challenges, including the 737 Max crisis.
Management Changes: Larry Kellner, the chairman, won’t seek reelection. Steve Mollenkopf will take over as chair, while Stan Deal, head of commercial airplanes, is leaving immediately. Stephanie Pope will replace Deal.
Industry Pressure: Airlines and regulators are demanding significant changes at Boeing due to quality and safety concerns. These issues have led to production delays, strained relationships with customers, and a decline in Boeing’s stock value.
Larry Kellner, chairman of the board, will not stand for reelection at Boeing’s annual meeting in May, Boeing said Monday.
He will be succeeded as chair by Steve Mollenkopf, who has been a Boeing director since 2020 and is a former CEO of Qualcomm. Mollenkopf will lead the board in picking a new CEO, Boeing said.
And Stan Deal, president and chief executive of Boeing’s commercial airplanes unit, is leaving the company effective immediately. Moving into his job is Stephanie Pope, who recently became Boeing’s chief operating officer after previously running Boeing Global Services.
Quality flaws
The departures come as airlines and regulators have been increasing calls for major changes at the company after a host of quality and manufacturing flaws on Boeing planes.
Scrutiny intensified after a Jan. 5 accident, when a door plug blew out of a nearly new Boeing 737 Max 9 minutes into an Alaska Airlines flight.
“As you all know, the Alaska Airlines Flight 1282 accident was a watershed moment for Boeing,” Calhoun wrote to employees on Monday.
“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.
It’s been a bad start to 2024 for Boeing.
“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,” he wrote.
“We have another mountain to climb,” Calhoun said.
“Let’s not avoid the call for action. Let’s not avoid the changes that we have to make in our factory. Let’s not avoid the need to slow down a bit and let the supply chain catch up.”
Calhoun, a more than decade-long board member at Boeing, took the top job there in January 2020 after the company ousted its previous chief executive, Dennis Muilenburg, for his handling of the aftermath of two deadly 737 Max crashes.
Production issues
Boeing’s production problems have delayed deliveries of new planes to customers and hampered growth plans.
CEOs of some of the company’s largest customers, including United Airlines, Southwest Airlines, and American Airlines have publicly complained about the delays.
Ryanair, Boeing’s largest airline customer in Europe, said in a statement Monday it welcomes the management changes.
“Stan Deal has done a great sales job for Boeing for many years, but he’s not the person to turn around the operation in Seattle, and that’s where most of the problems have been in recent years,” Ryanair CEO Michael O’Leary said in a video posted to social media platform X.
United’s CEO, Scott Kirby, earlier this month said he urged Boeing to stop making yet-to-be-certified Max 10 planes for the company because it wasn’t clear when the FAA would clear those aircraft to fly.
Ahron Young is an award winning journalist who has covered major news events around the world. Ahron is the Managing Editor and Founder of TICKER NEWS.
In a virtual appearance at Davos, Trump outlines his aggressive economic agenda and fields questions from global business leaders.
President Donald Trump delivered his first major international remarks since returning to the White House earlier this week, addressing the World Economic Forum (WEF) in Davos, Switzerland, via satellite.
Speaking to an audience of global leaders and business executives, Trump outlined a bold economic agenda focused on revitalizing American industry, reducing regulatory barriers, and prioritizing domestic production.
During his address, Trump highlighted his administration’s commitment to creating jobs, reducing trade deficits, and renegotiating international trade agreements to benefit American workers.
“We are ushering in a new era of economic strength,” Trump declared, adding that his policies will be aimed at securing the United States’ position as a global leader in innovation and manufacturing.
Following his speech, Trump joined a panel to field questions from international business leaders.
Topics included his vision for energy independence, the role of technology in driving economic growth, and how the U.S. plans to engage with allies on trade and security.
Trump said his administration’s willingness to partner with nations that share a commitment to economic fairness and mutual prosperity.
While the address was met with some skepticism from European leaders, who expressed concerns about the impact of Trump’s trade policies, business leaders praised his focus on deregulation and infrastructure investment.
President Trump warns Russia of sanctions and tariffs to push for Ukraine peace
President Donald Trump has issued a stern warning to Russia, vowing to impose significant tariffs and additional sanctions if President Vladimir Putin does not take immediate steps to end the ongoing war in Ukraine.
Writing on his social media platform Truth Social, Trump asserted that a resolution to the conflict would not only benefit Ukraine but would also serve Russia’s interests, calling the potential outcome a “very big favor” to Moscow.
The Kremlin has responded cautiously to Trump’s statements, with spokesman Dmitry Peskov reiterating Russia’s openness to “mutually respectful dialogue.”
However, he dismissed the warnings as consistent with the rhetoric Trump employed during his first term. Russian President Putin continues to demand recognition of Moscow’s territorial gains in Ukraine, a condition Kyiv refuses to accept.
Meanwhile, Ukrainian President Volodymyr Zelensky, reiterated the critical role of the United States in any peacekeeping effort.
Speaking at the World Economic Forum, Zelensky suggested that a peacekeeping force, including U.S. troops, would be essential to deterring Russian aggression and securing long-term stability.
“It can’t be without the United States,” Zelensky stated, underlining his belief in America’s leadership on the global stage.
As negotiations remain at a standstill, Trump’s proposed measures could intensify pressure on Moscow.
However, analysts caution that any significant shift will depend on the willingness of all parties to engage in constructive talks, with the U.S. playing a pivotal role in shaping the outcome.
Trump orders release of JFK assassination files; includes records on Robert F. Kennedy and Martin Luther King Jr.
President Trump signed an executive order directing the release of federal documents related to the assassinations of John F. Kennedy, Robert F. Kennedy, and Martin Luther King Jr.
The order requires the director of national intelligence and the attorney general to submit a plan within 15 days for the complete release of JFK assassination records.
Trump stated that continued withholding of JFK-related information is not in the public interest and that the documents’ release is overdue.
While no congressional act mandates the release of records on the other two assassinations, Trump asserted that making these documents public is also in the public interest.
During his 2024 campaign, Trump promised to declassify remaining documents about JFK’s assassination, which continues to intrigue the public since the event in 1963.
Despite previously pledging to release documents during his first term, Trump kept some withheld, citing intelligence concerns.
John F. Kennedy was shot in Dallas by Lee Harvey Oswald, leading to ongoing conspiracy theories regarding potential CIA involvement.
In 2022, nearly 13,000 new files related to JFK’s assassination were released by the National Archives, marking the largest release since 2018.
Legislation from 1992 requires all remaining records to be released by October 2017 unless related to national defense or intelligence.
Both Trump and President Biden have issued extensions to keep some documents private.
Experts suggest that significant revelations are unlikely from the upcoming document releases.