Boeing CEO Dave Calhoun to Step Down Amid Safety Crisis
This comes in response to the ongoing safety crisis plaguing Boeing.
Boeing CEO Dave Calhoun is set to step down by the year's end, marking a significant shake-up in the aerospace giant's leadership in response to the ongoing safety crisis plaguing Boeing. The decision comes as Boeing grapples with a series of safety incidents, including a mid-air panel blowout on a 737 MAX plane in January.[1]
Joining Calhoun in departure are board chair Larry Kellner and Stan Deal, head of the company's commercial planes business.
The January panel blowout was just the latest in a string of safety crises that have rocked the aviation industry's trust in Boeing, hindering its production expansion efforts. Calhoun, 66, assumed the role of CEO in the aftermath of two fatal crashes in 2018 and 2019, which claimed the lives of nearly 350 individuals.
Initially, airline executives voiced support for Calhoun following the January incident. However, sentiments soured amidst ongoing production delays and revelations of quality issues at Boeing's primary manufacturing hub near Seattle.
Boeing shares have plummeted by approximately 25% since the January incident.