Boeing shareholders keep outgoing CEO as board member

The Bold Bureau /

Boeing’s shareholders’ general assembly renewed the terms of all board members, including that of outgoing CEO Dave Calhoun, whose severance package of over $33 million was also approved. The decision was announced on May 17, 2024.

Calhoun, an administrator since 2009 and CEO of the aerospace giant since early 2020, is set to leave his position by the end of the year. Boeing confirmed the decision on March 25, 2024, while the manufacturer was under increasing pressure after a series of production issues in 2023 affecting the 737 MAX and 787 Dreamliner models, and the Alaska Airlines Boeing 737 MAX 9 door plug blowout on January 5, 2024.

Steve Mollenkopf, the chairman of the board at Boeing, stated that a thorough process is in progress to select a new CEO capable of leading the company.

Boeing is “committed to a process that will identify the next CEO to lead Boeing through our current challenges and into the future,” Mollenkopf said, quoted by Reuters.

The results of the votes on the resolutions have not yet been disclosed. They are expected to be filed with the US Securities and Exchange Commission (SEC) in the coming days.

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