CEO David Calhoun’s background in private equity and as GE executive is anathema to changes needed
When Boeing CEO David Calhoun was asked in January how he would fix the 737 Max crisis as a long-time insider, he bristled at the label, telling reporters, “I watched the same movie you did.”
Zafirovski was Boeing’s longest-serving director at more than 15 years, while Liddy has been on the board since 2010 after an earlier stint that was disrupted by his appointment at AIG. Neither had direct experience in commercial-aerospace development. Among the legacy directors that remain, the median tenure is nine years. Point being, more needs to be done. Shareholders will have an opportunity to lodge symbolic protest votes against the current slate at Boeing’s annual meeting, which is likely to take place in April. But there’s something to be said for a more proactive, deep overhaul, much like what took place at GE.
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