Dave Calhoun, Chairman of Boeing
Adam Jeffery | CNBC
Boeing on Tuesday said it is raising the mandatory retirement age of its 64-year-old CEO from 65 to 70 as the company continues face challenges from the coronavirus pandemic, production issues and the aftermath of two crashes of its best-selling plane.
Boeing’s CFO Greg Smith will retire in July, the manufacturer said. Boeing said it is conducting a search for his replacement.
“Under Dave’s strong leadership, Boeing has effectively navigated one of the most challenging and complex periods in its long history,” Boeing’s Chairman Larry Kellner said in a press release. “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.”
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