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Boeing CEO Dave Calhoun has announced his departure from the company at the end of the year, citing a need for transparency and a commitment to safety and quality. This decision comes after a series of setbacks at Boeing, including an investigation by the Federal Aviation Administration into a 737-9 (MAX) aircraft of Alaska Airlines, where part of the fuselage detached during a flight.

The US Government had previously ordered the grounding of all Boeing 737-9 (MAX) planes until safety concerns were addressed. In a letter to employees, Calhoun referenced this incident as a “turning point” for Boeing and emphasized the need for transparency and accountability in addressing these issues. Despite the challenges facing the company, Calhoun expressed confidence that Boeing would be able to overcome this crisis with his leadership.

Boeing Chairman Larry Kellner also announced that he does not plan to run for re-election at the next shareholders meeting. Steve Mollenkopf will take over as the independent president and will lead the process of selecting the next CEO. Mollenkopf has experience in both software development and aviation industry, which could prove beneficial in navigating these challenging times for Boeing.

Calhoun had been considering a CEO transition for some time and believes his tenure at Boeing will come to a close once he completes necessary work on improving safety measures within the company. While he did not directly link his departure to the Alaska accident, Calhoun remains committed to fixing issues within Boeing and ensuring its long-term success.

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