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.

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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.

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

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