On March 25, Boeing President and CEO Dave Calhoun announced his decision to resign as CEO at the end of 2024.

The decision follows manufacturing issues that have raised safety concerns and forced the company into the spotlight. In January, a panel blew off a Alaska Airlines Boeing 737 Max in flight after bolts were not replaced after repair work at a Boeing factory, according to a National Transportation Safety Board investigation.

“The eyes of the world are on us, and I know that we will come through this moment a better company,” Calhoun wrote in a letter to employees. “We will remain squarely focused on completing the work we have done together to return our company to stability after the extraordinary challenges of the past five years, with safety and quality at the forefront of everything that we do.”

Steve Mollenkopf, who will succeed current Board Chair Larry Kellner, will lead the board’s process of selecting Boeing’s next CEO.

In addition to these changes, Stephanie Pope takes over as Boeing Commercial Airplanes President and CEO, to succeed Stan Deal, who retired. Pope is the former Boeing Chief Operating Officer, and has held other executive positions, including Chief Financial Officer of BCA.

Boeing’s fastener distribution unit — Boeing Distribution — was No. 6 on MDM’s 2023 Top Fasteners Distributors list.