Boeing’s new chief begins job as planemaker faces 737 Max fallout

Boeing’s new CE, David Calhoun, assumes the job Monday as the US planemaker battles to recover from two fatal crashes of 737 Max planes that killed 346 people in five months and led to the model’s worldwide grounding in March. Calhoun, 62, a long-time Boeing director named chairman in October after the board stripped Dennis Muilenburg of the title, was named CE on 23 December. The board had fired Muilenburg amid growing concerns about the company’s relationship with regulators and its handling of the Max. Boeing has estimated costs of the Max grounding at more than $9b to date and is expected to disclose significant additional costs during its Q4 earnings release on 29 January. Boeing faces rising costs from halting production of the Max this month, compensating airlines for lost flights and assisting its supply chain. It is also considering raising more debt. Calhoun, a longtime executive at Blackstone private equity group and corporate crisis manager, is already working to repair the company’s relationships with regulators, airlines and lawmakers. He previously headed a General Electric division that included airplane engines. A source close to Calhoun said Sunday that he wants to “get rid of the culture of arrogance” at Boeing that led to the messages written by a small number of employees, and ensure staff “hold each other accountable”.<br/>