Boeing’s departing CEO Dave Calhoun was re-elected to stay on the troubled company’s board on Friday, even as the plane maker’s chairman said he was gathering feedback from customers and others in its search for a new chief executive.
Boeing is dealing with a sprawling crisis that includes multiple investigations, possible prosecution for past actions and slumping production of its strongest-selling jet.
Shareholders voted at Boeing’s annual general meeting for Calhoun to remain on the board in a preliminary tally.
Proxy adviser Glass Lewis had recommended shareholders vote against the re-election of Calhoun and two other directors to Boeing’s board, citing dissatisfaction over efforts to transform the planemaker’s safety culture.
Mollenkopf, a former Qualcomm chief is leading the search to replace Calhoun, who said he would retire by year-end as part of a management shakeup following a January mid-air blowout on a new 737 MAX 9.
Boeing is “committed to a process that will identify the next CEO to lead Boeing through our current challenges and into the future,” he said.
The company has sought feedback from customers, employees and investors in the search, Mollenkopf said.
“The months and years ahead are important to our company as we take the necessary steps to regain the trust lost in recent times, get back on track and perform like the company that we all know Boeing can and must be every day.”
Boeing shares have plunged 30 per cent this year.
“I would think it’s going to be a rougher ride, this AGM,” said David Duffy, co-founder and director of the Corporate Governance Institute, in reference to Mollenkopf.