May 17 (Reuters) – Boeing (BA.N) CEO Dave Calhoun to step down Opens new tab The plane maker said on Friday it was preparing for a meeting with U.S. aviation regulators. Despite this, he was re-elected to remain on the troubled company’s board of directors. Its quality control issue.
Boeing is grappling with a wide-ranging crisis, including multiple investigations, possible prosecution for past conduct and a slowdown in production of its best-selling jet.
Shareholders voted to retain Calhoun on Boeing’s board at Boeing’s annual general meeting (AGM). Proxy adviser Glass Lewis had recommended that shareholders vote against the re-election of Calhoun and two other board members, citing dissatisfaction with the aircraft maker’s efforts to change its safety culture.
Calhoun said the company will meet with the Federal Aviation Administration (FAA) in “the next few weeks” to present a final plan that respects the U.S. regulator’s 90-day deadline.
In late February, the FAA will develop a comprehensive plan for Boeing to address “systemic quality control issues” after January’s mid-air emergency raised new safety concerns. Said it was necessary.
“We anticipate that the FAA will take the necessary time to review that plan and hold us accountable for the various management parameters that will be put in place as we move forward,” Calhoun said.
Mr. Molenkopf, formerly of Qualcomm (QCOM.O), became the new tab chief, and the company said it had hired an outside advisor to help find Mr. Calhoun’s replacement. Mr. Calhoun announced that Mr. Calhoun will step down by the end of the year as part of a restructuring. January emergency situation for the new 737 MAX 9.
Boeing is “engaged in the process of identifying the next CEO to lead Boeing through the current challenges and into the future,” he said.
Mollenkopf said the company solicited feedback from customers, employees and investors in its investigation.
Boeing catches up on ongoing plane debacle
Boeing has recently been plagued by safety concerns that began after a door panel on a Boeing 737 MAX 9 jet blew off on January 5 during a flight from Oregon to California. The plane, operated by Alaska Airlines, appeared to be missing four key bolts, according to the National Transportation Safety Board.
United Airlines CEO Scott Kirby shies away from Boeing after Alaska Airlines door explosion nearly catastrophizes, grounding the airline’s MAX 9 planes Then he threatened.
National Transportation Safety Board Chairwoman Jennifer Homendy warns that mid-air door explosions like the Boeing 737 MAX 9 fiasco “could happen again,” adding there are “problems” in the manufacturing process. Ta.
A week after the first accident, when a Boeing plane developed a crack in its cockpit window and was forced to make an emergency landing in Japan, disaster has struck again.
A Boeing 757 lost its front tire in late January while preparing to depart for an international flight. At Atlanta International Airport, a Delta flight bound for Bogota, Colombia, was taxiing across the runway to takeoff when another plane alerted the control tower to an abnormality.
Shocking photos later revealed that British passengers were alarmed when they noticed pieces of tape stuck to the exterior of a Boeing 787 during a flight to India.
On Monday, March 11, a United Airlines Boeing 777-300 leaked fuel mid-air and was forced to make an emergency landing, marking the airline’s fifth reported accident in just over a week.
Ryanair CEO Michael O’Leary previously said he had “loud complaints” to Boeing about quality control.
Whistleblower John Barnett raised safety concerns at the airline’s factories and gave his first testimony in the bomb case against Boeing. He was found dead in his truck after failing to appear for the second part of Monday’s testimony.
“The coming months and years for our company will be about regaining the credibility we recently lost, getting back on track, and becoming the company we all know Boeing can and must be every day,” he said. “This is critical to taking the necessary steps to improve performance.” He said.
Boeing shares fell slightly in New York. The stock price has fallen 30% this year.
Shareholders also supported a non-binding advisory vote on pay after proxy advisory firm ISS highlighted a mismatch between CEO pay and company performance.
Tony Bancroft, a portfolio manager at Gabelli Funds, which owns Boeing stock, said he believes Mr. Calhoun’s pay structure is commensurate with a company of Boeing’s size.
Investors have been waiting for any progress on choosing Mr. Calhoun’s successor. Management experts said the company needs to find a new leader by the middle of this year because the current management doesn’t have the credibility to make bold changes.
“Boeing cannot get back on track until the board appoints a new CEO from outside the company with a technical background and deep understanding of aerospace technology,” said former Medtronic CEO Bill George. (MDT.N), CEO and professor of management practice at Harvard University.
Bancroft said Pat Shanahan, CEO of Boeing supplier Spirit AeroSystems. (SPR.N), would be a “great choice” for the next CEO.Other potential successors cited by analysts and sources include members of Boeing’s board of directors and airlines. (CARR.N), President David Gitlin and American Airlines (AAL.O), Chairman Greg Smith.
