Boeing Announces Leadership Change Following Near-Miss Incident

Following a critical incident involving an Alaska Airlines 737-9 Max series aircraft on January 5, 2023, and subsequent heightened scrutiny by the international community, the beleaguered aircraft manufacturer Boeing has now announced a comprehensive overhaul of its leadership. CEO Dave Calhoun will step down from his position at the end of the year, as announced by Boeing, a major competitor of Airbus. The stock market responded positively to this news, with Boeing shares experiencing an approximate two percent increase. Prior to this, the company had to endure a significant decline in share value of more than a quarter since the start of the year. The shakeup in the executive ranks also involves Chairman Larry Kellner and the head of the commercial airplanes division, Stan Deal. While Kellner is not standing for re-election at the annual general meeting, Deal has already handed over his position to Stephanie Pope, who had only recently taken over the day-to-day management at Boeing. Calhoun, who took over as the head of the corporation at the beginning of 2020 following two crashes of the 737 Max jets and the subsequent mismanagement by Dennis Muilenburg, emphasized that his resignation was a personal decision and announced that 2024 will be his last year as corporate chief. His successor has yet to be determined, with the selection process to be led by the new chairman of the board, Steve Mollenkopf, former CEO of Qualcomm. The incident with the Alaska Airlines aircraft, which contributed to the change at the top, involved the detachment of a door-sized section of the fuselage during flight. Fortunately, there were no injuries among the more than 170 passengers. Investigations are being conducted by the US Federal Aviation Administration (FAA), the National Transportation Safety Board (NTSB), and the Department of Justice, and it has already been determined that fastening bolts were missing from the broken-off fuselage part. In response, the FAA temporarily prohibited the expansion of the 737 Max series production, leading to adjustments in the flight schedules of airlines such as Ryanair and Southwest. Despite technical modifications and the reintroduction of the 737 Max, Boeing remains in the shadow of a severe crisis triggered by the crashes of two jets. According to Chief Financial Officer Brian West, the costs of this crisis and recent incidents amount to additional billions. Calhoun commits to leading the company through the ongoing year and positioning it as stable and future-proof. In this context, he emphasizes the need for a corporate culture that places safety and quality at the forefront.