BA Boeing Co

By Colin Kellaher

Boeing Co. on Tuesday said its board extended the aircraft maker's retirement age for President and Chief Executive David Calhoun by five years and said its chief financial officer, Gregory Smith, plans to retire in July.

Mr. Calhoun, 64 years old, took the reins as Boeing's president and CEO in January 2020 after the Chicago company ousted Dennis Muilenburg as it grappled with an extended crisis caused by two fatal crashes of its 737 MAX jetliner.

Boeing said the board extended the company's standard retirement age of 65 to age 70 for Mr. Calhoun, adding that there is no fixed term associated with his employment.

Meanwhile, Boeing said it has launched a search for a successor to Mr. Smith, who will retire as executive vice president of enterprise operations and chief financial officer on July 9. Mr. Smith has been finance chief since 2011.

Write to Colin Kellaher at colin.kellaher@wsj.com

(END) Dow Jones Newswires

April 20, 2021 09:34 ET (13:34 GMT)

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