Boeing‘s board has initiated the search for a new CEO following the departure of Dave Calhoun, amidst mounting pressure and crises facing the company.
With challenges stemming from a mid-air panel blowout on a 737 MAX plane in January, Boeing seeks to address safety concerns, improve its reputation, and regain the trust of stakeholders.
The new CEO will inherit a series of tasks, including enhancing the company’s safety culture, addressing quality issues, and rebuilding relationships with regulators, customers, and the public.
They will be tasked with meeting production goals, increasing cash flow, and reducing debt to compete against European rival Airbus.
While Stephanie Pope was initially considered a potential successor after being appointed chief operating officer, her recent appointment as head of Boeing’s commercial airplanes division suggests an external hire may be favored.
Industry analysts speculate potential candidates, including GE CEO Larry Culp and Pat Shanahan of Spirit Aerosystems, who bring significant experience in aerospace.
Despite speculation, Culp has expressed his focus on leading GE Aerospace, while Shanahan may be considered due to his familiarity with Boeing and its supply chain. Another potential candidate is former Boeing CFO Greg Smith, currently chairman of American Airlines, known for his expertise in overseeing supply chains.
While some suggest an internal candidate like board member David Gitlin, Boeing may opt for an external hire to bring fresh perspectives and address safety criticisms.
However, unions advocate for engineering leadership to prioritize safety over shareholder value, emphasizing the need for a return to Boeing’s engineering-focused roots.
As Boeing is going through its CEO transition, the choice of leadership will be pivotal in shaping the company’s future trajectory and rebuilding its reputation in the aerospace industry.
