Author Bio
Lou has followed the markets for more than two decades, developing extensive contacts including industry leaders, consultants, regulators, and labor representatives. He spends a lot of time these days focused on the industrials and financials. When not arguing on Twitter or writing about the markets, Lou spends his free time out in nature, complaining online about the Baltimore Orioles or Watford FC, or listening to early 1990s alt rock.
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What happened
Boeing (NYSE:BA) shares are under pressure on Tuesday after the aerospace giant said its chief financial officer is retiring. Investors sometimes view executive departures as a harbinger of bad news, and the stock is off by nearly 5%.
Boeing Co. has made several changes to the membership and structure of its board since a second 737 MAX crashed two years ago. Investors will soon decide whether the company has done enough.
Boeing Replaces 2 More Directors As Part of Its Post-737 MAX Crisis Overhaul By Lou Whiteman
02/18/21 AT 12:27 AM
Boeing (NYSE:BA) said late Wednesday that two of its directors are retiring. This is the latest development in the aerospace giant s response to criticism over its handling of the 737 MAX crisis.
Boeing said that Arthur Collins Jr., a board member since 2007, and Susan Schwab, a director since 2010, would not stand for reelection. Collins is the one-time CEO of Medtronic, while Schwab is a former U.S. trade representative.
The company is continuing to overhaul its governance following issues with its 737 MAX, which was grounded for nearly 20 months following a pair of fatal accidents in 2018 and 2019 that claimed a total of 346 lives. Post-accident investigations uncovered some embarrassing details about the safety culture at Boeing, eventually leading to the resignation of CEO Dennis Muilenburg.
Author Bio
Lou has followed the markets for more than two decades, developing extensive contacts including industry leaders, consultants, regulators, and labor representatives. He spends a lot of time these days focused on the industrials and financials. When not arguing on Twitter or writing about the markets, Lou spends his free time out in nature, complaining online about the Baltimore Orioles or Watford FC, or listening to early 1990s alt rock.
Follow @louwhiteman
Boeing (NYSE:BA) said late Wednesday that two of its directors are retiring. This is the latest development in the aerospace giant s response to criticism over its handling of the 737 MAX crisis.
Boeing Directors Art Collins and Susan Schwab to Retire from Board
- Boeing announces new committee chairs
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CHICAGO, Feb. 17, 2021 /PRNewswire/ The Boeing Company (NYSE: BA) board of directors today announced that directors Arthur D. Collins Jr. and Susan C. Schwab will retire from the board when their terms expire and will not stand for reelection at the company s Annual Meeting of Shareholders. The board also named chairs to its six board committees, to take effect following the yearly voting for the election of directors at Boeing s annual shareholder meeting, which is scheduled to occur on April 20.