NEW YORK CITY, NY β Boeing CEO Dave Calhoun announced his plans to leave the company by the end of the year, according to CNN.
Chairman , Larry Kellner will join Calhoun in his departure. The board has elected fellow board member Steve Mollenkopf to succeed him.
Boeing has experienced problems with its plane for more than five years, 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 the side of an Alaskan Airline 737 Max in January, leaving a gaping hole in the side of the plane.
The issues have resulted in several groundings for safety issues and more that $31 billion in losses.
This is a developing story check back for updates.
