More big news from Boeing as president and CEO Dave Calhoun has announced his decision to step down as CEO at the end of 2024. Calhoun will continue to lead Boeing through the year to complete what the company describes as “critical work underway to stabilise and position the company for the future.”
Another development is that Larry Kellner, Chair of the Board, has informed the board that he does not intend to stand for re-election at the upcoming Annual Shareholder meeting. The board has elected Steve Mollenkopf to succeed Kellner as independent board chair. In this role, Mollenkopf will lead the board’s process of selecting Boeing’s next CEO.
In another big move, Stan Deal, president and CEO of Boeing Commercial Airplanes, will retire from the company, with Stephanie Pope appointed to lead the division, effective immediately.
“It has been the greatest privilege of my life to serve Boeing,” said Calhoun in a letter to employees. “The eyes of the world are on us, and I know that we will come through this moment a better company. We will remain squarely focused on completing the work we have done together to return our company to stability after the extraordinary challenges of the past five years, with safety and quality at the forefront of everything that we do.”
You can read Calhoun’s letter to Boeing’s employees here.
Kellner has served on the board of Boeing for 13 years and has served as its chair since late 2019. As chair, he oversaw the establishment of a new board aerospace safety committee, and during his tenure led the recruitment of seven new independent directors, with the aim of bringing engineering, safety, manufacturing and aerospace expertise to Boeing’s board.
“Boeing plays an essential role in our world, and serving this company, and our people, has been a true honour,” said Kellner. “After over a decade on the board and several years as its chair, I have been considering the right time for a transition of leadership on our board, and have been discussing that subject with Dave and the board in conjunction with Dave’s own planning about his succession timeframe. I want to thank Dave for his tremendous leadership of our company, and I know he will finish the job this year that he started in 2020 to position Boeing, and our employees, for a stronger future.
“With Dave’s decision to step down as CEO at the end of this year, now is the right time for a transition to my successor,” added Kellner. “Steve is the ideal next leader to take on the role of board chair, and it is important that the CEO selection process be led by a new chair who will stay at the helm as a partner to the new CEO. With a strong board, an excellent management team and 170,000 dedicated Boeing employees, I am fully confident in our company’s future.”
Steve Mollenkopf has served on Boeing’s board of directors since 2020. He was previously CEO of Qualcomm and holds bachelor’s and master’s degrees in electrical engineering.
“I am honoured and humbled to step into this new role,” said Mollenkopf. “I am fully confident in this company and its leadership – and together we are committed to taking the right actions to strengthen safety and quality, and to meet the needs of our customers. I also want to thank both Larry and Dave for their exceptional stewardship of Boeing during a challenging and consequential time for Boeing and the aerospace industry.”
Stephanie Pope has been serving as chief operating officer of Boeing since January of this year. Previously, she was president and chief executive officer of Boeing Global Services, where she was responsible for leading the company’s aerospace services for commercial, government and aviation industry customers worldwide. Prior to that role, she was chief financial officer of Boeing Commercial Airplanes, and has held positions in every Boeing business unit. She begins her role as president and CEO of Commercial Airplanes immediately.
