ARLINGTON- Today, Boeing President and CEO Dave Calhoun announced his decision to step down as CEO by the end of 2024. He will remain at the helm of Boeing throughout the year to oversee the crucial ongoing initiatives to stabilize and position the company for future success.
Board Chair Larry Kellner has told the board his intention not to seek re-election at the upcoming Annual Shareholder meeting. Consequently, the board has appointed Steve Mollenkopf to succeed Kellner as an independent board chair. Mollenkopf will spearhead the board’s efforts in selecting Boeing’s next CEO in his new capacity.
Boeing CEO Calhoun Resigns
In addition to these updates, Stan Deal, President and CEO of Boeing Commercial Airplanes (BCA), will retire from the company, and Stephanie Pope has been appointed to lead BCA, effective immediately.
Boeing President and CEO Dave Calhoun addressed all employees today with the following message:
Team,
The recent Alaska Airlines Flight 1282 accident has been a pivotal moment for Boeing. It’s imperative that we continue to respond to this incident with humility and full transparency. We must embed a steadfast commitment to safety and quality at every level of our organization.
The world’s attention is on us, and I’m confident that we will emerge from this period as a stronger company, building upon the lessons we’ve learned as we’ve worked together to rebuild Boeing over the past few years.
I extend my sincere appreciation to each and every one of you for rising to the challenge and for the ongoing efforts to demonstrate to all stakeholders that the future Boeing will meet and exceed expectations. Over the last five years, we’ve tackled some of the most significant challenges in our company’s 108-year history. I’m certain that our approach to overcoming these challenges and our response to this current moment will set the standard for future generations of Boeing employees and will shape our operations for decades to come.
In light of our company’s future, I want to inform you that I’ve been in discussions with our board of directors regarding the appropriate timing for a CEO transition at Boeing. I’ve made the decision that this will be my final year as CEO of our esteemed company, and I’ve communicated this decision to the board.
When I assumed the role of CEO at the board’s request, relinquishing my position as board chair, it was in response to the unprecedented circumstances Boeing faced at the time. Serving in both capacities has been the greatest honor of my life, and I’ll consider our journey complete only when we’ve successfully completed the necessary tasks. We’re committed to rectifying any shortcomings and guiding our company back on the path to recovery and stability.
My decision to step down as CEO at the end of this year has been anticipated by the board and will lead to several changes in management and governance moving forward. Larry Kellner, our long-time board chair and my steadfast partner at Boeing, has informed the board and me that he won’t seek re-election at our upcoming Annual Meeting of Shareholders. The board has selected Steve Mollenkopf to succeed Larry as chair. Steve will spearhead the process of selecting my successor as CEO. Larry, after more than four years as chair and 13 years on our board, believes that the CEO selection process should be led by a chair who will collaborate closely with the new CEO.
I want to express my deepest gratitude to Larry for his exceptional leadership over the past several years. I speak for everyone at Boeing when I say that nobody has demonstrated greater dedication and worked harder than Larry. Among his many contributions, he has significantly strengthened our governance structure, including recruiting several outstanding new board members and establishing our independent aerospace safety committee. Boeing owes Larry a great debt of gratitude.
I also want to thank Steve for accepting the role of chair. With his extensive and successful career, including his tenure as CEO of Qualcomm and his experience as a board member of several important public companies, Steve brings invaluable expertise to Boeing. Since joining our board, he has made invaluable contributions, and his engineering background will serve him and the company well in his new role. I look forward to collaborating with him for the remainder of the year to ensure a seamless transition.
Additionally, Boeing Commercial Airplanes President and CEO Stan Deal will retire from the company, and Stephanie Pope will lead our BCA business, effective immediately. I extend my appreciation to Stan for his many years of dedicated service since joining Boeing 38 years ago, and for his unwavering leadership during challenging times for our company and industry.
I’m grateful to Stephanie for taking on this critical role. With nearly three decades of experience at Boeing, including her successful leadership of our global services business, Stephanie is deeply familiar with our company and possesses a proven track record of exceptional leadership, including her ability to listen and respond to our employees. As a third-generation Boeing employee, she is passionately committed to our company, our employees, and our shared future. Stephanie is the ideal person to lead our commercial airplanes business at this pivotal moment.
As we navigate this period of transition, rest assured that our focus remains steadfast on completing the work we’ve undertaken together to restore stability to our company after the extraordinary challenges of the past five years, with safety and quality as our top priorities.
Thank you,
Dave
Boeing CEO Message to Employee amid his decision to resign.
Other Changes
Kellner has been a member of the Boeing Board for 13 years and has held the chair position since late 2019. During his tenure, he oversaw the establishment of a new aerospace safety committee within the board.
He played a key role in recruiting seven new independent directors, each bringing extensive expertise in engineering, safety, manufacturing, and aerospace to Boeing’s board.
“Boeing holds a vital position in our global landscape, and it has been a genuine privilege to serve this company and its workforce,” stated Kellner.
“After more than a decade on the board and several years as its chair, I have been contemplating the appropriate timing for a leadership transition within our board. This topic has been under discussion with Dave and the board, aligning with Dave’s own succession planning timeline. I extend my gratitude to Dave for his exceptional leadership of our company, and I am confident he will successfully conclude the initiatives he initiated in 2020 to position Boeing and our employees for a brighter future. With Dave’s decision to step down as CEO by the end of this year, it is now the opportune moment for a transition to my successor. Steve is ideally suited to assume the role of board chair, and it is imperative that the CEO selection process be led by a new chair who will collaborate closely with the new CEO. With a robust board, an outstanding management team, and 170,000 dedicated Boeing employees, I have complete confidence in the future of our company.”
Larry Kellner
Mollenkopf joined the board of directors in 2020, bringing with him previous experience as the CEO of Qualcomm. He holds bachelor’s and master’s degrees in electrical engineering.
“I am deeply honored and humbled to take on this new responsibility,” expressed Mollenkopf. “I have complete faith in this company and its leadership, and together, we are committed to taking decisive actions to enhance safety and quality, and to meet the needs of our customers. I also extend my gratitude to both Larry and Dave for their outstanding guidance of Boeing during a challenging and pivotal period for Boeing and the aerospace sector.”
Steve Mollenkopf
Pope assumed the role of chief operating officer at Boeing in January of this year. Before this, she served as the president and CEO of Boeing Global Services, overseeing the company’s aerospace services for commercial, government, and aviation industry clients globally.
Prior to that, she held the position of chief financial officer at Boeing Commercial Airplanes and has held various roles across all Boeing business units.
She has now commenced her duties as President and CEO of Commercial Airplanes with immediate effect.
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