Dave Calhoun, Chairman of Boeing
Adam Jeffery | CNBC
Boeing said Tuesday it is raising its 64-year-old CEO’s mandatory retirement age from 65 to 70 as the company continues to face challenges from the coronavirus pandemic, manufacturing 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 looking for its replacement.
“Under Dave’s strong leadership, Boeing has effectively gone through one of the most challenging and complex periods in its long history,” said Larry Kellner, Boeing chairman, 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 of Directors has determined that it is in the best interest of the company and its stakeholders to call the Board and to allow Dave the flexibility for him to continue in his position beyond the company’s standard retirement age. ”
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