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Boeing CEO Dave Calhoun can postpone his retirement party.
The board of directors raised the mandatory retirement age for Calhoun, who was brought in at the height of the 737 Max jet crisis, from 65 to 70 just days after he turned 64. The extension was announced at the company's annual shareholders' meeting which was held virtually.
THE BOEING CO.
The board’s vote of confidence for Calhoun comes as Boeing continues to struggle to recover from two crashes of its best-selling airliner and the coronavirus pandemic, which has undermined demand for new planes. Boeing lost nearly $12 billion last year as orders and deliveries plunged.