Boeing CEO faces U.S. Senate inquiry as successor search accelerates

Boeing has been plunged into crisis by a near-catastrophic accident involving a 737 Max 9 aircraft, and CEO Dave Calhoun has been keeping an increasingly low profile in recent months.

View the latest quotes Boeing has been thrust into crisis following a near-catastrophic crash involving a 737 Max 9 aircraft. Chief Executive Dave Calhoun has been keeping an increasingly low profile in recent months.
Now Calhoun faces a public inquiry by the U.S. Senate, accused of putting the company\’s profits before the safety of the public.
Tuesday\’s hearing will put the CEO on the spot to defend himself.
Boeing has experienced a 32% share price plunge this year as investors have turned their attention to Calhounshan\’s undisclosed successor.
As part of a senior management shakeup in March, new chairman Steve Mollenkopf is leading the search for the next CEO.
People familiar with the matter said the search has accelerated in recent weeks.
Boeing is going through one of the most tumultuous periods in its century-old history. The U.S. Department of Justice, Congress and other federal agencies are investigating the company.
Federal Aviation Administration Administrator Michael Whitaker lamented that regulations were too lax and vowed to keep Boeing under tight control until real progress was made.

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