Calhoun, who takes the reins Jan 13, will be leading a once-proud company whose reputation for engineering prowess is now in tatters. On top of the grounding of its best-selling plane after two deadly crashes, Boeing has suffered production stumbles with its KC-46 tanker, delays to its 777X jetliner and an embarrassing mishap that caused its new space capsule to miss a rendezvous with the International Space Station over the weekend.
The shares added less than 1% in pre-market trading Tuesday . They climbed 2.9% to US$337.55 at the close in New York, the biggest gain in six weeks, after the company named Calhoun to replace Dennis Muilenburg. Muilenburg, 55, resigned from the post after months of growing pressure from investors and a chorus of calls for his ouster from the U.S. Congress and leading business publications.
Director Larry Kellner, who once led Continental Airlines, will replace Calhoun as chairman. Chief Financial Officer Greg Smith will serve as interim CEO during a brief transition period while Calhoun, a senior executive at Blackstone Group Inc, unwinds a welter of corporate ties.
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Source: staronline - 🏆 4. / 75 Read more »