Boeing announces CEO Dave Calhoun will step down by year-end

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Boeing logo is seen at the company's technology and engineering center in Sao Jose dos Campos, Sao Paulo state, Brazil, October 10, 2023. /Reuters

Boeing CEO Dave Calhoun will step down from the embattled plane maker at the end of the year, the company said Monday after a series of safety incidents and manufacturing issues following a mid-air panel blowout on a 737 MAX plane in January.

"The eyes of the world are on us, and I know that we will come through this moment a better company," Calhoun said in a letter to staff that referenced putting "safety and quality at the forefront of everything that we do."

Board Chair Larry Kellner has also told the company he doesn't plan to stand for re-election.

(With input from agencies)