Dave Calhoun, President of Boeing
Adam Jeffery | CNBC
Boeing said Tuesday that it is raising the mandatory retirement age for its CEO from 64 to 65 as the company continues to face challenges due to the coronavirus pandemic, production problems and the consequences of two accidents of his best-selling plane.
Boeing chief financial officer Greg Smith will retire in July, the manufacturer said. Boeing said it was conducting a search for his replacement.
“Under Dave’s strong leadership, Boeing has effectively sailed through one of the most challenging and complex periods in its long history,” Boeing President Larry Kellner said in a news release. “Given the substantial progress made by Boeing under Dave’s leadership, as well as the continuity needed to thrive in our long-term industry, the Board has determined that it is in the interest of the company and stakeholders to allow the Board and Dave to continue their role beyond the company’s standard retirement age. “
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