Boeing Unveils Strategic Shifts in Leadership and Governance

Boeing [NYSE: BA] President and CEO Dave Calhoun today revealed his decision to resign as CEO by the conclusion of 2024. He will continue to guide Boeing throughout the year to finalize crucial initiatives aimed at stabilizing and positioning the organization for future success.

Board Chair Larry Kellner has conveyed to the board that he does not plan to seek re-election at the forthcoming Annual Shareholder gathering. The board has appointed Steve Mollenkopf as the new independent board chair. In this capacity, Mollenkopf will oversee the board’s search for Boeing’s next CEO.

Alongside these transitions, Stan Deal, President and CEO of Boeing Commercial Airplanes, will retire from the company, and Stephanie Pope has been designated as the new head of BCA, effective immediately.

“It has been the utmost honor of my life to work for Boeing,” Calhoun expressed in a letter to staff. “The world is observing us, and I firmly believe that we will emerge from this phase as a stronger company. Our focus will remain on the collaborative efforts we have undertaken to restore our company to stability after the extraordinary trials of the past five years, with safety and quality taking precedence in all our actions.”

Access Calhoun’s full letter to employees, here.

Kellner has been a member of the Boeing Board for 13 years and served as its chair since late 2019. In his capacity as chair, he oversaw the creation of a new aerospace safety committee and was instrumental in the recruitment of seven new independent directors, who bring significant expertise in engineering, safety, manufacturing, and aerospace to Boeing’s board.

“Boeing plays a vital role in our society, and serving this company, along with our workforce, has been a true privilege,” stated Kellner. “After more than a decade on the board and several years as its chair, I have been contemplating the proper timing for a leadership transition on our board, and have had discussions on this matter with Dave and the board regarding Dave’s succession timeline. I would like to express my gratitude to Dave for his exceptional leadership of our company, and I know he will complete the mission this year that he began in 2020 to equip Boeing, and our personnel, for a robust future. With Dave’s choice to step down as CEO at the year’s end, now is the perfect moment for my successor to take the reins. Steve is the exceptional leader to undertake the role of board chair, and it’s essential that the CEO selection process is spearheaded by a new chair who will remain as a partner to the incoming CEO. With a robust board, an outstanding management team, and 170,000 dedicated Boeing employees, I am entirely confident in our organization’s future.”

Mollenkopf has been on the board of directors since 2020, having served previously as the CEO of Qualcomm. He holds both bachelor’s and master’s degrees in electrical engineering.

“I am both grateful and honored to take on this new position,” Mollenkopf remarked. “I have full faith in this company and its leadership – together we are committed to implementing effective measures to enhance safety and quality, and to address the demands of our customers. I also want to extend my gratitude to both Larry and Dave for their remarkable guidance of Boeing during a challenging period for the aerospace sector.”

Pope has been the chief operating officer of Boeing since January of this year. Previously, she served as president and chief executive officer of Boeing Global Services, where she directed the company’s aerospace services for commercial, government, and aviation industry clients worldwide. Before that, she held the position of chief financial officer for Boeing Commercial Airplanes and has worked across various Boeing business units. She immediately assumes her role as President and CEO of Commercial Airplanes.