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Outgoing Boeing CEO Calhoun to not stand for re-election to Caterpillar board

Published 04/03/2024, 07:00 AM
Updated 04/03/2024, 09:56 AM
© Reuters. FILE PHOTO: Boeing Chief Executive Dave Calhoun speaks during a press conference about a multibillion-dollar deal with Ryanair for as many as 300 Boeing jets at Boeing headquarters in Arlington, Virginia, U.S., May 9, 2023. REUTERS/Evelyn Hockstein/File P

(Reuters) - Dave Calhoun, outgoing CEO of Boeing (NYSE:BA), will not stand for re-election to the board of Caterpillar (NYSE:CAT) at the company's 2024 annual shareholders meeting, the construction equipment maker said in a regulatory filing on Wednesday.

His decision was not the result of any disagreement between him and Caterpillar, the Texas-based company said.

Calhoun announced late last month that he would step down from the top role at Boeing by the end of this year as the planemaker faces regulatory heat once again after a mid-flight panel blowout on a 737 MAX 9 plane in January.

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