Boeing CEO Calhoun to Remain in Post As Board Extends Retirement Age

By Paul Riegler on 21 April 2021
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Boeing’s board of directors on Tuesday extended the mandatory retirement age for CEO David Calhoun from 65 to 70 in a vote of confidence for its chief executive.

Mr. Calhoun took the reins of a company in crisis in January 2020, succeeding interim CEO Greg Smith, the company’s long-time CFO. The previous CEO, Dennis Muilenburg, resigned on December 23, 2019 after numerous setbacks in the company’s attempts to return the beleaguered 737 Max aircraft to the skies.

The aerospace company also announced the retirement of its current chief financial officer, Greg Smith.  Mr. Smith will leave the company in July after serving in his post for over a decade.

The change in the c-suite comes as Boeing remains under pressure after two fatal hull losses of its 737 Max aircraft and, more recently, the temporary grounding of dozens of the planes after the discovery of an electrical issue.

The company is currently conducting a search for a new CFO, it said in a statement.

As a director of the company since 2009, Mr. Calhoun is one of the longest-serving board members Boeing has had.  Before becoming CEO, he served as head of a General Electric division that manufactured aircraft engines.

(Photo: Accura Media Group)

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