And the executive overhaul doesn't stop there: board chair Larry Kellner is out, to be replaced by former Qualcomm CEO Steve Mollenkopf, who will lead the search for a new CEO. Stan Deal, head of Boeing's commercial planes business, is also leaving.
The leadership changes cap weeks of turmoil at Boeing, after a mid-air incident in which a door panel blew off a Boeing 737 MAX 9 jet operated by Alaska Airlines. The mishap, which turned into a full-blown safety and reputational crisis for the planemaker, was just the latest in a series of safety issues that have shaken the industry's confidence in Boeing and hampered its ability to increase production.
Calhoun himself was brought in as CEO about four years ago following a pair of crashes in 2018 and 2019 that killed nearly 350 people.
The company is facing heavy regulatory scrutiny, and U.S. authorities curbed production at Boeing while it attempts to fix its safety and quality problems. The company is in talks to buy former subsidiary Spirit AeroSystems, which makes parts for Boeing planes, to try to get more control over its supply chain.
Boeing shares have lost roughly one-quarter of their value since the Alaska Airlines incident in January. Shares were up in Monday morning trading.
