During Boeing's annual general meeting (AGM) on Friday, May 17, shareholders voted to retain Dave Calhoun, the departing CEO, on the company's board despite ongoing challenges, including a safety crisis and declining share prices.
The decision comes as Boeing's chair, Steven Mollenkopf, leads efforts to find a new chief executive to replace Calhoun, who plans to retire by year-end following management changes prompted by a January incident involving a 737 Max 9 aircraft.
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Boeing's Ideal CEO
According to The Guardian, Boeing is currently dealing with several challenges, including ongoing investigations and production issues related to its main aircraft model. In response to these challenges, the company is determined to appoint a new CEO to address these issues effectively and restore confidence in Boeing.
Shareholders also supported a non-binding advisory vote on compensation, reflecting concerns over CEO pay versus company performance.
At the moment, investors eagerly await news on Calhoun's successor. Experts emphasize the need for a new leader with a technical aerospace background to steer Boeing back on track.
A recent report from VCPost suggests that Boeing is facing criticism regarding the safety of its cargo planes. Although not as severe as previous incidents, this contributes to the company's overall scrutiny and investigation tally.
Potential candidates include Patrick Shanahan of Spirit AeroSystems, David Gitlin from Carrier, and Greg Smith of American Airlines, all of whom are reportedly experts in their fields.
No individual is currently being publicly speculated or rumored to be the board's preferred choice.
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