In major shakeup of Boeing’s leadership, CEO Dave Calhoun said Monday he intends to leave the beleaguered company by the end of the year. The company’s chairman and head of the commercial airplane unit are also leaving.
Boeing’s chairman, Larry Kellner, will not stand for re-election as a board director. The board has elected former Qualcomm CEO Steve Mollenkopf to succeed him.
The company also announced that Stan Deal, CEO of Boeing Commercial Airplanes, is retiring. Stephanie Pope, Boeing’s chief operating officer since January, is taking his place effective immediately.
Boeing has been buffeted by more than five years of problems with its airplanes, including two fatal crashes of the 737 Max in 2018 and 2019 that killed 346 people, and most recently a door plug that blew out of the side of an Alaska Airlines 737 Max in January, leaving a gaping hole in the side of the plane. The problems have led to multiple groundings for safety issues and more than $31 billion in cumulative losses.
Time to open that golden parachute and avoid all culpability.
Fuck every single corporation
Well. Yeah. The CEO rules as the board of directors wishes. Put me in that spot and fuckin’ A I’m writing a golden parachute into my contract.
“I gotta do what you say or you’ll fire me?”
“Exactly so.”
"What if you’re all assholes?
“Maybe.”
“Imma need a fat check when shit goes down.”
“Sure we’ll take that bet! But we won’t do anything stupid.”
A new CEO was hired to take over a struggling company. The CEO who was stepping down met with him privately and presented him with three numbered envelopes. “Open these if you run into serious trouble,” he said.
Well, three months later sales and profits were still way down and the new CEO was catching a lot of heat. He began to panic but then he remembered the envelopes. He went to his drawer and took out the first envelope. The message read, “Blame your predecessor.” The new CEO called a press conference and explained that the previous CEO had left him with a real mess and it was taking a bit longer to clean it up than expected, but everything was on the right track. Satisfied with his comments, the press – and Wall Street – responded positively.
Another quarter went by and the company continued to struggle. Having learned from his previous experience, the CEO quickly opened the second envelope. The message read, “Reorganize.” So he fired key people, consolidated divisions and cut costs everywhere he could. This he did and Wall Street, and the press, applauded his efforts.
Three months passed and the company was still short on sales and profits. The CEO would have to figure out how to get through another tough earnings call. The CEO went to his office, closed the door and opened the third envelope. The message said, “Prepare three envelopes.”
I’m still waiting on those criminal charges.
Rewarding failure and immoral behavior while punishing responsibility and integrity.
Capitalism just encourages, coddles and breeds the worst individuals in our civilization.
Didn’t they also murder a guy like last week? Are we just forgiving that one?
Yep that slid right off the front page in a few hours
Everyone that spoke about it got a long talking to on a ledge of a balcony im sure
Yeah, guess thats what most russians felt like initially.
Then it becomes common place, then no one notices the murders, then its to late to do anything about it at all.
I will forever refer to him as David Quality-Escape Calhoun. He should be in jail, and we must not let Boeing design and manufacture the prison facility, because a quality escape would lead to a prison escape.
that won’t un-fire all these QC people and engineers that didn’t agree to cutting corners
And unmurder the whistleblower.
I hope he’s saved enough for retirement… /s
