In a significant leadership transition, Boeing’s CEO Dave Calhoun revealed his decision to step down by the end of this year, marking the culmination of a distinguished career in the aerospace industry. The announcement, made during an exclusive interview with Phil LeBeau, comes as Boeing navigates a pivotal juncture, grappling with operational challenges and management restructuring.

Addressing the rationale behind his retirement, Calhoun emphasized that the timing resulted from meticulous planning and personal reflection. Having served as CEO for nearly five years, Calhoun expressed his intention to provide the board with ample notice to facilitate a smooth transition and succession planning. “I’ve entered my fifth year. I’ll be close to 68 years old at the end of this year,” Calhoun stated. “I’ve always said to the board, and the board has been very prepared, I would give them plenty of notice so they could understand and plan succession in regular order. That’s what this is about.”

Praising the board’s deliberate approach to leadership changes, Calhoun underscored his confidence in the incoming leadership team, including Larry Kellner and Steve Mollenkopf. “I’m very proud of how the board has handled everything,” Calhoun remarked. “It was very deliberate. The move with Larry, in my view, was very deliberate. Steve’s entry as the new chairman was deliberate. All very qualified and great decisions.”

Despite his impending retirement, Calhoun emphasized his commitment to addressing ongoing challenges facing Boeing, particularly in light of recent setbacks such as the Alaska Air incident. Stressing the importance of confronting issues head-on, Calhoun reaffirmed Boeing’s dedication to safety and quality control, highlighting ongoing efforts to streamline operations and enhance supply chain efficiency.

The interview also shed light on crucial management changes within Boeing, including the resignation of Stan Deal as head of Boeing Commercial Airplanes, with Stephanie Pope assuming the role. Calhoun praised Pope’s exemplary track record and leadership qualities, emphasizing her invaluable contributions to Boeing’s services business.

However, the conversation also delved into recent criticisms against Boeing’s corporate culture, particularly regarding a perceived emphasis on production speed over quality control. Calhoun acknowledged these concerns, attributing them to long-standing industry dynamics and operational challenges. “We have to get that in way more balance,” Calhoun stated. “Everybody has to be able and capable of raising their hand.”

As Boeing charts a path forward under new leadership, stakeholders await further developments regarding the company’s strategic direction and operational priorities. Calhoun’s impending retirement marks a significant milestone in Boeing’s history, underscoring the need for steadfast leadership and renewed focus on innovation, safety, and customer satisfaction. As the aerospace giant navigates turbulent skies, the resilience and determination of its leadership team will be critical in shaping Boeing’s trajectory in the years to come.