Boeing Ceo To Step Down This Year, Stocks Rise

Following a series of safety calamities,Dave Calhoun, Boeings CEO, has said he will be stepping down from his position at the end of 2024.

My decision to step down as CEO at the end of this year is one the board has been prepared for, and will result in a number of changes at a management and governance level moving forward. My long-time partner in all things Boeing, our ChairLarry Kellner, has advised the board and me that he does not intend to stand for re-election at our upcoming Annual Meeting of Shareholders. The board has electedSteve Mollenkopfto succeed Larry as chair. Steve will lead the board process of selecting my successor as CEO, said Calhoun in communication addressed to Boeings employees.

The news appears to have been received positively by traders, with Boeing shares rising 4% shortly after the announcement. This is on the back of a 25% nosedive in Boeings stock after the door of an Alaska Airlines aircraft blew out mid-flight.

Mystery still surrounds the sudden death ofJohn Barnett, the ex-Boeing staff member responsible for quality control for the manufacturer between 2010 and 2017. Barnett filed a complaint with the Occupational Safety and Health Administration (OSHA) in 2017 the same year he retired due to stress-related medical issues.

OSHA closed the four-year investigation, reportedly finding no fault with Boeing. Barnetts appeal was still pending when he died, along with a lawsuit he filed against Boeing, alleging that the company had undermined his career because he had raised safety concerns. In the lead-up to his death on March 9 this year, Barnett flagged major concerns regarding Boeings culture and approach to safety.

According to NPR.org , the alarm was sounded when Barnett was not present for his deposition in his lawsuit against Boeing. When police conducted a welfare check, Barnett was found fatally shot in his car that was parked at a Holiday Inn in Charleston.

The cause of Barnetts passing earlier this month was deemed a suicide. However, eTurbo News reported that a week before his death, he told a friend, I aint scared but if anything happens to me, its not suicide.

The lawsuit against Boeing continues.