Boeing Raises Retirement Age For CEO

The Boeing Board of Directors announced on Tuesday that it has extended the mandatory retirement age for its president and CEO David Calhoun from 65 to 70. Calhoun, who is currently 64, has served in the positions since Jan. 13, 2020. He replaced Dennis Muilenburg, who resigned in Dec. 2019 amidst criticism of his handling of the 737 MAX crisis.

“Under Dave’s strong leadership, Boeing has effectively navigated one of the most challenging and complex periods in its long history,” Boeing chairman Larry Kellner said in a statement. “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.”

In addition to his oversight the MAX’s return to service, Kellner cited Calhoun’s “proactive actions” in response to circumstances brought on by the coronavirus (COVID-19) pandemic. As previously reported by AVweb, measures taken by the company to mitigate the impact of the pandemic include plans to consolidate 787 production in South Carolina, production rate cuts and significant staff reductions. Boeing’s board emphasized that while its action on Tuesday extends Calhoun’s mandatory retirement age to April 1, 2028, there is no fixed term for his employment.