After Boeing's 737 Max 9 Crisis, The CEO Steps Down

Forbes

Boeing CEO, Dave Calhoun, announced Monday he will step down at the end of 2024—with several other executives leaving their roles—amid ongoing scrutiny of the safety of the manufacturing giant’s aircrafts.  Read the full story on Forbes: https://www.forbes.com/sites/caileygleeson/2024/03/25/boeing-ceo-dave-calhoun-stepping-down-alongside-other-executives/?sh=4b1f6350cd24  Subscribe to FORBES: https://www.youtube.com/user/Forbes?sub_confirmation=1  Fuel your success with Forbes. Gain unlimited access to premium journalism, including breaking news, groundbreaking in-depth reported stories, daily digests and more. Plus, members get a front-row seat at members-only events with leading thinkers and doers, access to premium video that can help you get ahead, an ad-light experience, early access to select products including NFT drops and more:  https://account.forbes.com/membership/?utm_source=youtube&utm_medium=display&utm_campaign=growth_non-sub_paid_subscribe_ytdescript  Stay Connected Forbes newsletters: https://newsletters.editorial.forbes.com Forbes on Facebook: http://fb.com/forbes Forbes Video on Twitter: http://www.twitter.com/forbes Forbes Video on Instagram: http://instagram.com/forbes More From Forbes:  http://forbes.com  Forbes covers the intersection of entrepreneurship, wealth, technology, business and lifestyle with a focus on people and success.

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00:00 Boeing CEO Dave Calhoun announced Monday, March 25, that he will step down at the end

00:05 of 2024, with several other executives leaving their roles amid ongoing scrutiny of the safety

00:11 of the manufacturing giant's aircrafts.

00:13 Calhoun, who became CEO in 2020, called the January 5 incident on Alaska Airlines Flight

00:19 1282, in which a door blew off a Boeing 737 MAX 9 aircraft mid-flight, a "watershed

00:25 moment" for the company, adding Boeing must continue to respond with "humility and

00:29 complete transparency" while instilling "total commitment to safety and quality

00:33 at every level of our company."

00:35 Calhoun told CNBC the decision to leave was "100 percent his own."

00:39 Board Chairman Larry Kellner will not seek re-election at the company's annual shareholders

00:43 meeting, the company said, and Steve Molenkopf has been selected to replace him.

00:47 Stan Deal, the firm's CEO of Commercial Airplanes, is retiring effective Monday.

00:52 Was Stephanie Pope replacing him?

00:54 The Justice Department reportedly launched a criminal probe into the Alaska Airlines

00:58 incident earlier this month, according to the Wall Street Journal, citing unnamed sources

01:02 and documents familiar with the matter.

01:04 The Federal Aviation Administration gave Boeing a May deadline to draft a new safety plan

01:09 addressing its systemic quality control issues.

01:12 Calhoun began serving on Boeing's board of directors in 2009 and became chairman in

01:16 late 2019, prior to taking on the role as CEO, according to the company.

01:21 Dennis Mullenberg, his predecessor, was fired in December of 2019 for his handling of two

01:26 fatal crashes involving Boeing aircrafts in 2018 and 2019 that killed 346 passengers and

01:33 crew.

01:34 Since January's Alaska Airlines incident, the manufacturer has found itself under renewed

01:38 regulatory scrutiny from the FAA and the National Transportation Safety Board, with the NTSB

01:44 launching a separate investigation in March into another incident involving a stuck pedal

01:48 on the rudder of a Boeing 737 MAX 8.

01:51 For more on this story, check out Kayleigh Gleason's article in the link in the description.

01:55 [music]

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