Boeing CEO David Calhoun announced that he will be stepping down from the company at the end of the year amid controversies and mishaps surrounding the aerospace manufacturer.
In a letter to employees on Monday, Calhoun said the decision to step down as part of the planned management reshuffle "to get our company back on the track towards recovery and stability."
Calhoun became the company's CEO in 2020 after his predecessor, Dennis Muilenburg, was fired over the safety issues that surfaced after two 737 Max planes crashed in 2018 and 2019, killing 346 passengers.
Now, Boeing is facing a similar mess in another 737 Max aircraft as the government launches a criminal investigation on the Alaskan Airlines Flight 1282 where one of the plane's panels blew out midflight.
The Boeing CEO told CNBC that the decision was "100%" his.
Along with Calhoun, Boeing's CEO for its commercial airplane unit, Stan Deal, will retire effective immediately, while board chair Larry Kellner announced no intentions for a reelection this year.
The new board of directors will be elected at Boeing's annual shareholders meeting in May.
Boeing Embattled with Production Safety Issues, Manufacturing Flaws
Since the blowout in its Alaska Airlines plane last January, Boeing has been hounded by companies and litigations over concerns about the safety of its aircraft.
Politico earlier reported that heads of major airlines are set to meet with Boeing possibly by next week to discuss how the company can fix its safety issues.
The report came after calls to fully suspend all 737 Max planes amid ongoing investigations.
It is worth noting that part of Boeing's settlement agreement, in addition to the $2.5 billion payment, over the 2018 and 2019 air crashes was to improve safety features of its 737 Max planes.
If the company has been proven to be negligent of its promise, the previous case, which was dubbed as "the deadliest corporate crime in U.S. history," could be reopened.
More Boeing 737 Max Aircraft Probe
As of writing, the Federal Aviation Agency noted "multiple instances" of Boeing and its supplier, Spirit AeroSystems, of failing to comply with quality-control requirements across 97 manufacturing processes.
Boeing has also been noted to fail at least 33 aspects of the review, including issues in door seals, safety mechanisms, and even among its fuselage.
The Federal Bureau of Investigation has been reported notifying passengers of Flight 1282 that they could possibly be victims of crime as it brushes up its own investigation.
This is in addition to the criminal investigation the Department of Justice launched last week.
Related Article : Boeing 737 Max Infested with Production Issues, FAA Audit Reports
