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After a tumultuous start to 2024, Boeing's CEO Dave Calhoun announced Monday he would be stepping down as CEO at the end of the year. Amidst heavy scrutiny from the flying public and the government, Boeing management is undergoing some changes.
Calhoun will continue to lead Boeing throughout the remainder of the year to "complete the critical work underway to stabilize and position the company for the future," but will step down from his role at the end of 2024. Board Chair Larry Kellner has told the board he will not stand for re-election during the upcoming Annual Shareholder meeting and the board elected Steve Mollenkopf to succeed Kellner as independent board chair. In the new role, Mollenkopf will lead the board's process to select Boeing's next CEO. In addition, Boeing confirmed other leadership changes discovered when the company sent out a memo in February. Stan Deal, Boeing Commercial Airplanes President and CEO will retire from the company and Stephanie Pope was appointed to lead BCA, effective Monday.
"It has been the greatest privilege of my life to serve Boeing," Calhoun said in his 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."RELATED STORIES:Boeing's head of 737 MAX program is leaving, other leadership changesBoeing CEO admits 'mistake' as FAA launches safety probeBoeing 737 MAX 9 was missing bolts before depressurization event
Calhoun also sent a letter to Boeing employees Monday, starting by referencing the Alaska Airlines Flight 1282 incident in January in which a door plug was blown off of a 737 MAX 9 at 16,000 feet. The company has been hit with criticism since the event, both from government agencies like the FAA and NTSB as well as the public media.
"We must continue to respond to this accident with humility and complete transparency," Calhoun said. "We also must inculcate a total commitment to safety and quality at every level of our company."
In his letter to employees, Calhoun said this was a decision he has considered for a long time and he and the board now feel it is the right time for a CEO transition at Boeing. With Calhoun stepping down, there will be several internal management changes. With four years as chair and 13 years on the board, Kellner will lead Boeing in a difficult time. Calhoun said now seems an appropriate moment to hand the reins over to Kellner, who will lead the CEO selection process and stay on as a partner to the next CEO.
"Boeing plays an essential role in our world, and serving this company, and our people, has been a true honor," Kellner said. "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," he continued. "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."
Kellner has served as board chair since late 2019 when Calhoun stepped down to take on the role of CEO in January 2020. Mollenkopf has served on the board of directors since 2020 and was previously the CEO of Qualcomm. He has bachelor's and master's degrees in electrical engineering.
"I am honored and humbled to step into this new role," Mollenkopf said. "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."
After her role as president and CEO of Boeing Global Services, Pope began serving as COO of Boeing in January. She had experience in leading the company's aerospace services for commercial, government and aviation industry customers globally. Previously, Pope was chief financial officer of Boeing Commercial Airplanes and has held positions in every Boeing business unit. Pope will begin her role as president and CEO of Commercial Airplanes immediately.
"With nearly 30 years of experience at Boeing, including her successful tenure leading our global services business, Stephanie knows our company inside and out and has a proven track record of superb leadership, including an innate talent for listening and responding to our people," Calhoun said in his letter to employees. "Stephanie is a third-generation Boeing employee. She is deeply committed to our company, to our employees and to our shared future; and she is the perfect person to take on the leadership of our commercial airplanes business at this moment."
"As we begin this period of transition, I want to assure you, 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," Calhoun said.