Boeing CEO Dave Calhoun reelected to board

Boeing CEO Dave Calhoun speaks briefly with reporters as he arrives for a meeting at the office of Sen. Mark Warner (D-VA) on Capitol Hill January 24, 2024 in Washington, DC.

Drew Angerer | Getty Images

Boeing shareholders voted to re-elect the outgoing CEO Dave Calhoun to the board of directors, a preliminary tally on Friday showed, as he sought to reassure investors that the manufacturer is on the path to stability amid its latest safety crisis.

Calhoun in March said he will step down by year’s end, months after a door plug panel blew out midflight from a Boeing 737 Max 9, ushering in new scrutiny of the manufacturer’s safety and quality control issues. Boeing also replaced its board chair and the head of its commercial airplane unit in the shakeup.

Boeing’s new chairman, Steve Mollenkopf, told shareholders at the company’s annual meeting Friday that he has consulted with investors and customers on Calhoun’s successor. Proxy advisor Glass Lewis had recommended that shareholders vote against Calhoun and two other board members.

Boeing’s latest problems have driven down deliveries of new aircraft, frustrating airline executives who have complained about having to change their flight schedules and scale back staffing. It has also further strained Boeing’s relationship with its regulator, the Federal Aviation Administration, which has ramped up inspections of the manufacturer.

Earlier this week, the Justice Department said Boeing violated a 2021 settlement that protected the company from criminal charges tied to the two fatal 737 Max crashes, opening Boeing up to potential U.S. prosecution.

Source link

Related Posts

The new AI arms race

Unlock the Editor’s Digest for free Roula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter. If the first global AI summit 15 months ago, hosted…

Read more

US inflation unexpectedly increases to 3% in January

Stay informed with free updates Simply sign up to the US inflation myFT Digest — delivered directly to your inbox. US inflation unexpectedly increased to 3 per cent in January,…

Read more

Russian defence spending exceeds all of Europe combined, study finds

Stay informed with free updates Simply sign up to the War in Ukraine myFT Digest — delivered directly to your inbox. Military spending in Russia, whose economy President Vladimir Putin…

Read more

China’s tech stocks enter bull market after DeepSeek breakthrough

Unlock the Editor’s Digest for free Roula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter. A benchmark for Chinese technology stocks has risen more than…

Read more

Israel threatens to resume war against Hamas if it fails to release hostages by Saturday

Israel’s Prime Minister Benjamin Netanyahu ordered his military to mass around the Gaza Strip and threatened to resume “intensive fighting” against Hamas if the Palestinian militant group failed to release…

Read more

Powell defends Fed’s authority over US monetary policy

Unlock the White House Watch newsletter for free Your guide to what the 2024 US election means for Washington and the world Jay Powell has defended the Federal Reserve’s authority…

Read more

Leave a Reply