Boeing has undergone a major leadership shakeup, with CEO Dave Calhoun announcing his intention to leave the company by the end of the year. Along with Calhoun, the chairman and head of the commercial airplane unit are also departing. Larry Kellner, who has been Boeing’s chairman for over a decade, will not stand for re-election as a board director and will be succeeded by Steve Mollenkopf, former CEO of Qualcomm. In addition, Stan Deal, CEO of Boeing Commercial Airplanes, is retiring and will be replaced immediately by Stephanie Pope, who currently serves as the company’s chief operating officer.
The announcement comes after years of challenges for Boeing, including fatal crashes of the 737 Max in 2018 and 2019 and a recent incident involving an Alaska Airlines 737 Max in January. These incidents have led to safety groundings and over $31 billion in cumulative losses. In a letter to employees, Calhoun referred to the Alaska Airlines incident as “a watershed moment,” emphasizing the need to fix what isn’t working and get the company back on track.
Calhoun’s tenure began amidst a 20-month grounding of the 737 Max and the onset of the COVID-19 pandemic, which greatly impacted air travel and Boeing’s financial stability. Despite these challenges, Calhoun led Boeing through some significant accomplishments during his time at the helm. The company successfully developed new aircraft models such as the 737 MAX 10 and KC-46 tanker aircraft. Additionally, Boeing expanded its services business through strategic acquisitions like KBR Inc., which helped improve its financial performance in recent years.
As one of Boeing’s longest-serving board members, Kellner played an integral role in shaping Boeing’s strategic direction over several decades. During his tenure as chairman