The Globe and Mail reports in its Tuesday, March 26, edition that Boeing chief executive officer Dave Calhoun will step down by year-end in a broad management shake-up brought on by the plane maker's sprawling safety crisis exacerbated by a January mid-air panel blowout on a 737 Max plane. A New York Times dispatch to The Globe reports that in addition, board chairman Larry Kellner and Stan Deal, head of the company's commercial planes business, are also leaving as Boeing's board tries to get control of the myriad issues that have shaken confidence in the iconic plane maker over several weeks. Some investors said the shake-up would not be enough to address these persistent issues. 50 Park Investments stockpicker Adam Sarhan says: "Boeing has had massive problems for years and he has not been able to fix those problems. The CEO's job is to fix the problem, and he hasn't been able to do that." The company is facing heavy regulatory scrutiny and U.S. authorities curbed production while it attempts to fix its safety and quality problems. The company is in talks to buy its former subsidiary Spirit AeroSystems to try to get more control over its supply chain. Mr. Calhoun said he made the decision to step down.
© 2024 Canjex Publishing Ltd. All rights reserved.