It is disappointing that Boeing was not forced to purge CEO David Calhoun and its Board as part of yesterday’s $2.5 billion DOJ settlement.
We most recently wrote about the fact that Boeing needed to purge is CEO and Board in September 2020. Boeing’s Board deserves an “F” for its handling of the 737 Max disaster. “I didn’t realize how bad it (Boeing’s culture), was until I took over as CEO”, said David Calhoun shortly after he claimed Boeing’s CEO chair in January 2020.
Mr. Calhoun had been a Boeing director since 2009. What was he doing as a Director? Building his resume and little more it appears. Calhoun certainly was not involved in Boeing’s operations. The cynic in me suggests that Calhoun was happy to remain on the sidelines, allowing former CEO Dennis Muilenburg to commit career suicide knowing he – Calhoun – was likely the next person in line for the CEO job. Prior to Boeing, Calhoun failed to reposition Nielsen for the online world while he was installed as that company’s $100 million CEO. Time to look in the mirror Mr. Calhoun.
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