CHICAGO, April 20, 2021 /PRNewswire/ -- The Boeing
Company [NYSE: BA] today announced that its Board of Directors has
extended the company's age-65 standard retirement to age 70 for
President and Chief Executive Officer (CEO) David L. Calhoun. Mr. Calhoun, 64, has served as
Boeing's President and CEO since Jan. 13,
2020.
"Under Dave's strong leadership, Boeing has effectively
navigated one of the most challenging and complex periods in its
long history," said Boeing Chairman Larry
Kellner. "His dedication to renewing the company's
commitment to safety, quality and transparency has been critical in
building regulator and customer confidence as Boeing returns the
737 MAX to service. And, in the face of unprecedented challenges
brought on by the global pandemic, he has taken proactive actions
to ensure Boeing remains strongly positioned for the recovery in
the aviation industry. Given the substantial progress Boeing has
made under Dave's leadership, as well as the continuity necessary
to thrive in our long-cycle industry, the Board has determined that
it is in the best interests of the company and its stakeholders to
allow the Board and Dave the flexibility for him to continue in his
role beyond the company's standard retirement age."
While the Board's action extends the mandatory retirement age
for Mr. Calhoun to April 1, 2028,
there is no fixed term associated with his employment.
Boeing also announced that Executive Vice President, Enterprise
Operations and Chief Financial Officer Gregory D. Smith has decided to retire from the
company, effective July 9, 2021.
Boeing is conducting a search for Mr. Smith's successor.
Mr. Calhoun said, "Greg is a remarkable business leader and we
will always be thankful for his many contributions to Boeing. His
stewardship of the company's financial position for nearly a
decade, and his leadership during the severe challenge our industry
has faced as a result of the global pandemic, have been essential
to positioning Boeing for a bright future. As part of these
efforts, he led the largest bond offering in the company's history
and launched a comprehensive transformation program that will leave
our business stronger and more resilient. Greg has also driven
Boeing to be a better and more competitive company through his
oversight of enterprise operations, sustainability, performance and
strategy. He leaves a legacy of leadership and lasting impacts over
his 30-years with Boeing. I'm also grateful for Greg's commitment
to support the upcoming transition, and for his counsel as we
select his successor."
Mr. Smith said, "Boeing is one of the world's greatest
companies. I could not be prouder of the 140,000 people who work
hard every day to deliver on our promises to all stakeholders and
live our foundational values. With the company well positioned
going forward, the timing is right for me personally to begin a new
chapter outside of Boeing. I will always cherish and be grateful
for the experiences I have had, and the relationships I have made,
in my thirty years at Boeing."
Smith was appointed chief financial officer in 2011 and later
served in expanded roles as the executive vice president of
Finance, Enterprise Performance and Strategy, and more recently
executive vice president of Enterprise Operations, Finance and
Sustainability. He served as the company's interim CEO, immediately
preceding Mr. Calhoun. Prior to his appointment as CFO, he was
corporate controller and vice president of Finance, serving as the
company's principal interface with the board of directors' audit
committee to ensure regulatory compliance.
Smith currently serves on the board of directors of Intel
Corporation, Lurie Children's Hospital and Northwestern Medicine
Community Physicians Group. He plans to remain active in business
and philanthropic roles.
Contact
Boeing Communications
media@boeing.com
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SOURCE Boeing