Marketplace®

Daily business news and economic stories

Boeing CEO to step down this year, board chairman to exit, head of commercial airplanes retires

CEO Dave Calhoun will step down at the end of the year following a series of mishaps from the plane maker.

Boeing CEO to step down this year, board chairman to exit, head of commercial airplanes retires
Samuel Corum/Getty Images

Boeing CEO Dave Calhoun will step down from the embattled plane maker at the end of the year after a series of mishaps at one of America’s most storied manufacturers.

Board Chair Larry Kellner has also told the company he doesn’t plan to stand for re-election.

Boeing also said Monday that Stan Deal, president and CEO of its commercial airplanes unit, will retire from the company. Stephanie Pope will now lead the division.

The Federal Aviation Administration has put the company under intense scrutiny and recently ordered an audit of assembly lines at a Boeing factory near Seattle, where the company builds planes like the Alaska Airlines 737 Max that suffered a door-panel blowout on Jan. 5. Investigators say bolts that help keep the panel in place were missing after repair work at the Boeing factory. The incident has raised scrutiny of Boeing to its highest level since two crashes of Boeing 737 Max jets in 2018 and 2019 that killed 346 people.

Shares rose more than 2% before the market open.

Related Topics

Tagged as:

Latest Episodes

View All Shows
  • Marketplace
    9 hours ago
    25:19
  • Make Me Smart
    15 hours ago
    19:00
  • Marketplace Morning Report
    18 hours ago
    6:55
  • Marketplace Tech
    a day ago
    8:33
  • This Is Uncomfortable
    3 days ago
    56:05
  • Million Bazillion
    24 days ago
    32:45