Boeing CEO Dave Calhoun is set to resign with a $24 million compensation amid heightened safety scrutiny, following recent aircraft incidents and a call from Emirates for leadership with an engineering focus.
Boeing CEO Dave Calhoun is set to resign with a $24 million compensation package amid safety concerns at the company, following an incident with an Alaska Airlines plane where a panel blew out mid-flight. His departure comes at a time when Boeing is undergoing scrutiny from various agencies, including the FAA, DOJ, and NTSB, especially after the 737 Max 8 aircraft incidents that resulted in two fatal crashes. Calhoun, who will soon turn 68, suggested his age as a partial reason for his resignation, though Boeing had extended the CEO’s mandatory retirement age to 70 the previous year. Details of his compensation package, which follows his 2022 earnings of over $22.5 million excluding a $7 million bonus, are to be disclosed by Boeing.
Meanwhile, Emirates President Sir Tim Clark called for Boeing to appoint a new CEO with an engineering background to prioritize safety and quality. This comes as Boeing faces a leadership reshuffle intended to address its reputational crisis, highlighted by a recent 737 Max door panel incident. Industry speculation about Calhoun’s potential successors includes names within Boeing, such as Stephanie Pope and Patrick Shanahan. Clark’s remarks follow a significant $52 billion wide-body jet order from Emirates to Boeing, emphasizing the urgency for Boeing to overcome its challenges. The aviation community watches closely as Boeing aims to navigate its current predicament and instill confidence in its governance and manufacturing processes.
