Stephanie Pope To Be Next CEO Of Boeing, With Effective From Jan 1
by upasana sarbajna News 12 December 2023
Boeing has given a promotion from the head of the services business to the chief operating officer, putting the female executive in talks as the potential heir to current CEO David Calhoun in the male-dominated industry.
Boeing said on Monday that “Stephanie Pope’s elevation to the job, which includes the title of executive vice president, takes effect January 1.”
Ope had spent approximately thirty years at Boeing, holding down all the major financial jobs in the company’s defense, services divisions, and commercial airplanes. She was also promoted the CEO of the services unit in the previous year.
Some of the industry observers were fast to tap Pope, as the contender to become the next CEO of the aerospace company. Richard Aboulafia, the managing director of the aerospace consultancy AeroDynamic Advisory, called Pope and the Chief Financial Officer(CFO) Brian West as the potential successors to Calhoun.
Calhoun, 66, has been in the position since January 2020, when he had replaced Dennis Muilengurg, who got fired during the fallout from the two fatal crashes that involved Boeing 737 Max jets. However, Calhoun has shown zero indication that he has been planning to retire anytime soon.
Days after Calhoun touched 64 back in 2021, Boeing increased the age for retirement for the CEO from 65 years to 70. He will not be reaching that age until 2028. In the month of February this year, the board of the company gave Calhoun a total of 5.3 million retention grant which does not vest until 2025.
Boeing had suffered from supply chain and manufacturing problems, which have interrupted the production of Max and a bigger airliner, the 787 Dreamliner. It also suffered multiple setbacks in its military programs, which included a contract with the United States Air Force to manufacture two brand-new presidential jets.