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Boeing CEO Dave Calhoun will step down at the end of the year, according to an announcement made by the American aircraft manufacturer on Monday. The news comes as the company faces several challenges, including technical issues with its aircraft and delays in deliveries.

Calhoun will lead Boeing through the remainder of the year to stabilize the company and prepare it for the future. A successor has not yet been named. The reasons for the leadership changes are not specified, but Calhoun mentioned in a letter to employees that he and the departing chairman Larry Kellner had been planning the transition for some time.

Boeing has faced a worldwide flight ban for the 737 MAX following two fatal plane crashes in 2018 and 2019. The company’s top executives have also been leaving, with a new CEO appointed for the commercial aircraft department and a new chairman taking over.

The challenges facing Boeing are numerous, but Calhoun emphasized in his letter to employees that transparency and humility are key to addressing them. He stated that his work at Boeing will only be complete when necessary tasks have been accomplished to ensure the company’s success. Shortly after

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