Boeing(BA) Business Insider·2024-12-26 14:09Leadership Changes - Boeing's new CEO Kelly Ortberg, who holds a degree in mechanical engineering, succeeded Dave Calhoun in August 2024 [3][7] - Elon Musk criticized former CEO Dave Calhoun, stating that Calhoun, an accounting graduate, had no understanding of aircraft or rocket design [8][11][16] - Calhoun resigned in March 2024, claiming the decision was entirely his own [15] Company Performance and Challenges - Boeing reported a net loss of 1.4 billion loss in the previous quarter [24] - The company's shares have declined by over 31% this year [21] - Boeing faced intense scrutiny after a door plug incident on a 737 Max 9 during an Alaskan Airlines flight in January 2024 [4][9] Turnaround Plan and Culture Shift - Ortberg outlined a four-part turnaround plan focusing on cultural change, business stabilization, execution discipline, and building a new future for Boeing [10][20] - Ortberg emphasized the need for leadership to be more involved in factory floors, engineering labs, and understanding both products and people [23] - The plan aims to restore Boeing to its former legacy as an iconic aerospace leader [25] Safety and Quality Concerns - A Senate subcommittee report in June highlighted whistleblower concerns about Boeing's handling of faulty plane parts [18] - Calhoun publicly apologized to the families of crash victims during a Senate hearing in June but defended Boeing's safety record [27] - Previous CEO Dennis Muilenburg was fired after two crashes involving the Max 8 variant killed 346 people in 2018 and 2019 [13] Industry Perspective - Elon Musk commented that Boeing is on a much better track with the new CEO, criticizing the previous leadership for losing touch with engineering roots [1][11][16]