Shares of Boeing Co. rallied Monday, as the aerospace and defense giant’s chief executive, Dave Calhoun, said he will step down at the end of the year.
The company also announced several other management changes. The CEO of its commercial-airplaines business will retire, and the chairman of the board will step down.
“The eyes of the world are on us, and I know that we will come through this moment a better company,” said Calhoun, who became Boeing CEO in January 2020.
The stock BA climbed 4.1%, to pace the S&P 500 index’s SPX premarket gainers.
Calhoun’s departure comes as he faced mounting pressure given the recent quality-control issues on commercial jets made by Boeing, including the blowout of a panel on an Alaska Airlines plane in January.
The quality problems have led to production pauses. Deliveries have fallen behind last year’s pace and the company’s stock has fallen.
© Copyright RawNews1st
