CEO Dave Calhoun will retire at the end of 2024. As part of a larger management shakeup for the troubled aerospace giant,

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Larry Kellner, the board chairman, has also announced his resignation and will step down at Boeing's annual meeting in May.

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Stan Deal, the CEO and president of Boeing Commercial Airplanes, is quitting the company with immediate effect.

On Monday, the business also declared that board chairman Larry Kellner would not stand,  company's re-election

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Larry Kellner will be replaced by Steve Mollenkopf, a board member of Boeing since 2020 and the former CEO of Qualcomm

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Boeing's stock increased by up to 2.5% after the announcement. As of Friday's close, the stock had dropped over 27% so far this year.

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 Dave Calhoun stated that the Alaska Air incident "was a watershed moment for Boeing" in a letter to staff members on Monday.