Boeing Co . (NYSE:BA) disclosed significant leadership transitions today, including the planned departure of its CEO David L. Calhoun by the end of 2024. The aerospace giant also revealed that Lawrence W. Kellner, the independent Chair of the Board, will not seek re-election at the 2024 Annual Meeting of Shareholders.
In preparation for these departures, the company's Board of Directors, which met on Sunday, has decided to reduce the size of the Board effective from the date of the 2024 Annual Meeting. Concurrently, Steven M. Mollenkopf was appointed to succeed Kellner as the independent Chair of the Board, a change that took effect immediately.
Additionally, Boeing announced an internal promotion within its ranks. Stephanie F. Pope, who has been serving as Executive Vice President and Chief Operating Officer, was elected to take over as President and Chief Executive Officer of Boeing Commercial Airplanes. Pope's appointment follows the departure of Stanley A. Deal and is effective as of today.
These top-level changes come at a pivotal time for Boeing, as the company navigates through the challenges of the aerospace industry, including competition and innovation in aircraft manufacturing.
The company has not yet disclosed the reasons behind Calhoun's decision to step down or Kellner's choice not to stand for re-election. The announcement was made in a filing with the Securities and Exchange Commission and reflects Boeing's ongoing efforts to manage its executive team and strategic direction.
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