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Boeing CEO Dave Calhoun to step down

Boeing’s CEO, Dave Calhoun, has announced he’ll step down by the end of the year. This comes after a tough time for the company, facing several challenges. Boeing, which has a wing factory in Broughton, Flintshire, has also seen changes in its leadership. Larry Kellner, the board chairman, won’t run for re-election. And Stan Deal, head of the commercial planes unit, is retiring. Stephanie Pope will now lead that division.

The Federal Aviation Administration (FAA) has been closely watching Boeing, even ordering an audit of one of its factories near Seattle. This move followed an incident where an Alaska Airlines 737 Max had a door-panel blowout on January 5th. Investigators found that important bolts were missing after repair work at Boeing’s facility.

This recent problem brings back memories of the scrutiny Boeing faced after the tragic crashes of Boeing 737 Max jets in 2018 and 2019, which claimed 346 lives.

Despite these challenges, Boeing’s shares rose over 2% before trading began. This suggests investors are optimistic about Boeing’s ability to navigate through tough times.