Boeing CEO to step down as safety concerns mount

Boeing announced Monday a leadership shakeup headlined by the departure of CEO Dave Calhoun as the aviation giant faces heavy scrutiny following safety incidents and manufacturing issues.

Besides Calhoun, who will stay in his post through the end of 2024, Boeing announced two other major changes to company management.

Stan Deal, Boeing's head of commercial airlines since 2019, will exit immediately, while the company's chairman, Larry Kellner, a former airline CEO, will depart after the company's annual meeting this spring.

Replacing Deal will be longtime Boeing executive Stephanie Pope, while former Qualcomm CEO Steve Mollenkopf will serve as the new chairman.

The sweeping personnel changes come in the wake of Boeing's near-catastrophic incident in January when a fuselage panel on a Boeing 737 MAX 9 Alaska Airlines jet blew off mid-flight.

Calhoun called the Alaska Airlines incident a "watershed moment" for the company in a letter to employees.

"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," Calhoun said.

Shares jumped on the announcement, which follows criticism of Boeing's manufacturing and quality control practices from the Federal Aviation Administration, which had given Boeing 90 days to come up with a plan to address the problem.

 Restive clients 

Boeing also faced heavy questioning from airlines, who had requested a meeting with the Boeing board in a move seen as a sign of restiveness among the carriers.

The Alaska Airlines incident put Boeing back in the hot seat, a familiar spot after a 20-month grounding...

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