How does Boeing CEO Dave Calhoun still have a job?
CNN
Hardly a day has gone by in 2024 without a bad headline for Boeing, from life-threatening mid-flight crises up above to entrenched business debacles happening on the ground. So how does CEO Dave Calhoun still have a job?
Hardly a day has gone by in 2024 without a bad headline for Boeing, from life-threatening mid-flight crises up above to entrenched business debacles happening on the ground. So how does CEO Dave Calhoun still have a job? “It’s become an extreme embarrassment,” Richard Aboulafia, a longtime aviation analyst, told me. “The board seems weirdly absentee, investors seem weirdly complacent, and the government doesn’t seem to have a mechanism for dealing with this.” Let’s step back: Boeing’s (BA) stock has shed more than a quarter of its value this year, and it’s only March. One of its planes suffered a mid-flight blowout on January 5, prompting multiple federal investigations that increasingly suggest Boeing workers failed to put crucial bolts in place after making repairs. Last week, investigators called the company out for dragging its heels in response to their requests for key evidence. Boeing said it is working closely with regulators’ investigations and has plans in place to improve safety measures at its production facilities. “We will continue supporting this investigation in the transparent and proactive fashion we have supported all regulatory inquiries into this accident,” Boeing said in a statement. Boeing’s 737 Max problems would be egregious enough on its own.
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