Boeing CEO Dave Calhoun to step down at end of 2024 amidst company turmoil

The Federal Aviation Administration (FAA) has intensified its scrutiny of Boeing, recently mandating an audit of assembly lines at a Boeing factory near Seattle. This factory produces aircraft such as the Alaska Airlines 737 Max, which experienced a door-panel blowout on January 5.

Boeing CEO Dave Calhoun is set to depart from the troubled aircraft manufacturer by the year's end, following a string of setbacks at one of America's most iconic industrial giants. Larry Kellner, the Board Chair, has also conveyed his intention not to seek re-election.

In addition, Boeing announced on Monday the retirement of Stan Deal, the president and CEO of its commercial airplanes unit. Taking over the division will be Stephanie Pope.

The Federal Aviation Administration (FAA) has intensified its scrutiny of Boeing, recently mandating an audit of assembly lines at a Boeing factory near Seattle. This factory produces aircraft such as the Alaska Airlines 737 Max, which experienced a door-panel blowout on January 5.

Investigators discovered missing bolts that secure the panel after repair work at the Boeing facility. This incident has drawn heightened attention to Boeing, reminiscent of the scrutiny it faced following the two crashes of Boeing 737 Max jets in 2018 and 2019, which claimed the lives of 346 individuals.