Boeing CEO Dave Calhoun to step down at the end of 2024

Boeing Co (NYSE: BA) is trading up in premarket on Monday after Dave Calhoun announced plans of stepping down as its chief executive.

Boeing planes have had several incidents recently

The news follows a series of incidents with Boeing planes in recent months – including a door panel blowout in an Alaska Airlines flight in January. The aerospace giant said in a statement today:

Dave Calhoun [will] step down as CEO at the end of 2024. He’ll continue to lead Boeing through the year to complete the critical work underway to stabilise and position the company for the future.

Boeing did beat Street estimates in its latest reported quarter but cited the ongoing 737 MAX crisis as it skipped guidance at the time (find out more).

$BA is currently down well over 20% for the year.

Two other executives are stepping down as well

Boeing announced a bunch of measures in recent weeks and promised to work closely with the federal authorities to alleviate the ongoing concerns.

Earlier this month, the New York listed firm was reported interested in buying Spirit AeroSystems Inc and cutting the supplier’s ties to Airbus as well in pursuit of improving quality of its planes (read more).

Emirates chief backs Boeing-Spirit merger amid factory crisis https://t.co/VRkZLaJvq4 pic.twitter.com/onfdNhBGoZ

— Reuters (@Reuters) March 6, 2024

Still, Stan Deal – the chief executive of commercial aeroplanes at $BA and chairman Lerry Kellner also announced plans of leaving the company alongside CEO Dave Calhoun at the end of 2024.

Despite everything, however, Wall Street continues to rate Boeing stock at “overweight” and sees close to a 30% upside in it on average.

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