Boeing is facing rapid developments as CEO Dave Calhoun announced his departure at the end of 2024, amidst the ongoing crisis with the 737 Max which has burdened the aerospace giant, leading to a wide-ranging administrative restructuring.

Larry Kellner, chairman of the board, is also stepping down and will not seek re-election at Boeing’s annual meeting in May, according to CNBC. Steve Mollenkopf, a board member since 2020 and former CEO of Qualcomm, will succeed him as chairman. Mollenkopf will lead the board in choosing a new CEO, Boeing stated.

Additionally, Stan Deal, president and CEO of Boeing Commercial Airplanes, is leaving the company with immediate effect. Stephanie Pope, recently appointed as a managing director at Boeing and former head of Boeing Global Services, will take over his role.

The departures come as airlines and regulatory bodies have heightened calls for significant changes at Boeing following a series of quality and manufacturing flaws in its planes. The scrutiny intensified following an incident on January 5th, when a door plug exploded from a nearly new Boeing 737 Max 9, minutes into an Alaska Airlines flight.

"The accident of Alaska Airlines Flight 1282 was a turning point for Boeing," Calhoun wrote to employees yesterday. “We must continue to respond to this accident with humility and full transparency. We must also embed an absolute commitment to safety and quality at every level of our company. The world's eyes are on us, and I know we will emerge from this moment a better company, leveraging all the lessons we've accumulated as we worked together to rebuild Boeing over the last few years," he wrote.

Calhoun told CNBC in an interview on Monday that the decision to resign was "100% his own."

"We have another mountain to climb," said Calhoun. "Let's not shy away from the call to action. Let's not shy away from the changes we need to make in our factory. Let's not avoid the need to slow down a bit and let the supply chain catch up."

Calhoun was appointed to the top position at the end of 2019 and took the helm of Boeing in early 2020 after the company ousted its previous CEO, Dennis Muilenburg, for his handling of the aftermath of the two fatal 737 Max crashes.