Dave Calhoun to step down as Boeing CEO by end of 2024

Dave Calhoun, President and CEO, Boeing announced his decision to step down as CEO at the end of 2024, and he will continue to lead Boeing through the year to complete the critical work underway to stabilise and position the company for the future.

"It has been the greatest privilege of my life to serve Boeing," says 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."

Board Chair Larry Kellner has informed the board that he does not intend to stand for re-election at the upcoming annual shareholder meeting, says an official release. "The board has elected Steve Mollenkopf to succeed Kellner as independent board chair. In this role, Mollenkopf will lead the board's process of selecting Boeing's next CEO."

Kellner has served on the Boeing board for 13 years and served as its chair since late 2019, the release added.

"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," says Kellner. "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."

Stan Deal, President and CEO, Boeing Commercial Airplanes (BCA) will retire from the company, and Stephanie Pope has been appointed to lead BCA, effective today, the release added.

"Pope has been serving as Chief Operating Officer of Boeing since January of this year. Previously, she was President and Chief Executive Officer, Boeing Global Services where she was responsible for leading the company's aerospace services for commercial, government and aviation industry customers worldwide. Prior, she was Chief Financial Officer, Boeing Commercial Airplanes, and has held positions in every Boeing business unit."