Boeing CEO Resigns Amidst Multiple Incidents

A series of operational incidents involving Boeing aircraft prompted an overhaul of the US aerospace company’s organizational structure. Boeing’s CEO resigned, while the commercial aviation CEO, Stan Deal, will retire. In his resignation letter, the CEO mentioned that the world’s eyes are currently on us, even though he stated that his resignation was a personal decision for Boeing.

The Alaska Airlines Boeing Max9 plane has been under close monitoring since a door came loose at an altitude of 16,000 feet in January. An investigation revealed that four important bolts were missing. Additionally, Boeing failed to provide requested documents and information to the US National Transportation Safety Board. There is no confirmation from Boeing on the safety of production aircraft. In early March, Boeing’s audit results from the Federal Aviation Administration showed that Boeing failed the audit for 33 out of 9 products. The investigation and criticism of Boeing have been focused on the Max type jet, which was developed in 2011 as an alternative to fuel-efficient aircraft.

The two largest accidents, which occurred on the Boeing Max aircraft, resulted in the deaths of a total of 346 people in Indonesia in 2018 and Ethiopia in 2019. Amid Boeing’s restructuring, American airline executives demanded a meeting with Boeing’s board of directors. According to a report last week, Boeing’s chief financial officer mentioned that the financial condition of the Seattle-based company will worsen and is expected to cost the company around $4 to $4. billion in the current first quarter.