Boeing CEO Dave Calhoun to step down by end of 2024 amid safety crisis: Report

Embattled aerospace giant Boeing CEO Dave Calhoun will step down at the end of 2024. Boeing board chairman Larry Kellner is also resigning and will leave the board at Boeing’s annual meeting in May, Reuters reported.  The aerospace maker has been facing massive criticism amid a safety crisis stemming from a January mid-air panel blowout on a 737 MAX plane.

CEO Dave Calhoun will leave the company at the end of 2024, while Chairman Larry Kellner will not stand for re-election, Boeing said in a statement. Stan Deal, who leads Boeing’s commercial airplanes division, will also retire immediately.

Calhoun's has been under pressure ever since the January 5 incident took place, when a door plug ripped off an Alaska Airlines flight about 16,000 feet above the ground. The company is facing heavy regulatory scrutiny and U.S. authorities curbed production while it attempts to fix safety and quality issues.

Calhoun was appointed to the top job in late 2019 and took the helm at Boeing in early 2020 after the company ousted its previous chief executive, Dennis Muilenburg, for his handling of the aftermath of two deadly 737 Max crashes.