"Boeing [NYSE: BA] President and CEO Dave Calhoun today announced his decision to step down as CEO at the end of 2024, and he will continue to lead Boeing through the year to complete the critical work underway to stabilize and position the company for the future," Boeing said in a statement.
Board Chair Larry Kellner has also informed the board that he does not intend to stand for reelection at the upcoming annual shareholder meeting, the statement added. Steve Mollenkopf will replace him in this position.
In addition, Boeing Commercial Airplanes President and CEO Stan Deal retires immediately and will be succeeded by chief operating officer Stephanie Pope, according to the statement.
"As you all know, the Alaska Airlines Flight 1282 accident was a watershed moment for Boeing. We must continue to respond to this accident with humility and complete transparency. We also must inculcate a total commitment to safety and quality at every level of our company," Calhoun wrote in a message to employees.
He explained that his decision to step down as CEO has been prepared for and will result in a number of changes at a management and governance level moving forward.
US media reported that last week, Calhoun began scheduling meetings with Boeing directors to discuss their concerns over the lack of manufacturing quality controls and lower-than-expected production of 737 Max planes.
Boeing has also experienced issues with other aircraft. In particular, an oxygen leak was discovered on board of a Boeing 737 that was to transport US Secretary of State Antony Blinken from the Davos World Economic Forum in January. The leak proved impossible to mend, making the plane unsafe to fly.