Boeing announced today a series of key changes in its board and senior management that include the retirement of its President and CEO, Dave Calhoun, his counterpart in the commercial aircraft unit, Stan Deal, as well as Larry Kellner, Chairman of the Board for nearly 5 years.
As detailed by the company through a statement, Calhoun‘s retirement was a personal decision that will be effective at the end of 2024 while he continues to support the company amidst the 737 MAX crisis to «complete the critical work underway to stabilize and position the company for the future.»
«It has been the greatest privilege of my life to serve Boeing,» said Calhoun in a letter to employees. «The eyes of the world are on us, and I know that we will come through this moment a better company. We will remain squarely focused on completing the work we have done together to return our company to stability after the extraordinary challenges of the past five years, with safety and quality at the forefront of everything that we do.»
Changes at Boeing Commercial Airplanes
The movements at Boeing reached its commercial aircraft unit. Stan Deal, President and CEO, will retire and his position will be occupied by Stephanie Pope starting today.
The executive had been named as Executive Vice President and Chief Operating Officer of The Boeing Company last December, and she was seen as a strong candidate to replace Calhoun.
Previously, she was President and CEO of Boeing Global Services, where she was responsible for leading the company’s aerospace services for commercial, government, and aviation industry customers worldwide.
Changes in the Board
Boeing also reported that Larry Kellner, Chairman of the Board, will not stand for re-election at the next annual shareholders meeting. Kellner had been part of the Board for 13 years and served as its chairman since late 2019.
«Boeing plays an essential role in our world, and serving this company, and our people, has been a true honor,» said Kellner.
After over a decade on the board and several years as its chair, I have been considering the right time for a transition of leadership on our board, and have been discussing that subject with Dave and the board in conjunction with Dave’s own planning about his succession timeframe. I want to thank Dave for his tremendous leadership of our company, and I know he will finish the job this year that he started in 2020 to position Boeing, and our employees, for a stronger future. With Dave’s decision to step down as CEO at the end of this year, now is the right time for a transition to my successor. Steve is the ideal next leader to take on the role of board chair, and it is important that the CEO selection process be led by a new chair who will stay at the helm as a partner to the new CEO. With a strong board, an excellent management team and 170,000 dedicated Boeing employees, I am fully confident in our company’s future.»
Taking his place will be Steve Mollenkopf as the independent Chairman of the Board, where he will lead the process of selecting Boeing’s next CEO.
«I am honored and humbled to step into this new role,» said Mollenkopf. «I am fully confident in this company and its leadership – and together we are committed to taking the right actions to strengthen safety and quality, and to meet the needs of our customers. I also want to thank both Larry and Dave for their exceptional stewardship of Boeing during a challenging and consequential time for Boeing and the aerospace industry.»
