Ryanair Holdings PLC on Monday said it welcomed the management shake-up at Boeing Co which will see the firm’s chief executive and chair step down this year.
Boeing, the Arlington, Virginia-based aerospace company said CEO Dave Calhoun will resign at the end of 2024, and will ‘continue to lead Boeing through the year to complete the critical work underway to stabilise and position the company for the future’.
Chair Larry Kellner, who has served on Boeing’s board for 13 years and became chair in late 2019, has also said he will not stand for re-election at its next annual shareholder meeting.
Boeing said former Qualcomm CEO Steve Mollenkopf, who has served on the board since 2020, will succeed Kellner as chair and lead the process to select CEO Calhoun’s successor.
Boeing also named Chief Operating Officer Stephanie Pope as the new CEO of Boeing Commercial Airplanes, effective immediately, as its current leader Stan Deal retires.
Boeing said it was going through ‘some of the most significant challenges...in our 108-year history’.
Ryanair’s Chief Executive Michael O’Leary said: ‘We welcome these much-needed management changes in Seattle. We look forward to working with Stephanie Pope to accelerate B737 aircraft deliveries to customers, including Ryanair in Europe, for Summer and Autumn 2024.’
‘We also look forward to continuing to work with Boeing CEO Dave Calhoun and CFO Brian West, and to helping Boeing recover its aircraft deliveries so that Ryanair can continue to grow strongly as Boeing’s no.1 customer here in Europe.’
Ryanair said it believed these changes ‘are necessary and good for Boeing and its customers.’
In a statement to Boeing employees, Calhoun said that ‘the Alaska Airlines Flight 1282 accident was a watershed moment for Boeing. We must continue to respond to this accident with humility and complete transparency.’
‘The eyes of the world are on us, and I know we will come through this moment a better company...We have been working together for the last five years to address some of the most significant challenges our company and industry have ever faced in our 108-year history.’
He continued: ‘We are going to fix what isn’t working, and we are going to get our company back on the track towards recovery and stability.’
Shares in Ryanair rose 0.1% to 1,796.00 pence in London on Monday afternoon. Boeing shares were 1.4% higher at $191.21 in New York.
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