Boeing CEO faces Senate grilling as successor search gains pace

As crisis engulfs Boeing Co. following the near-catastrophic accident on an airborne 737 Max 9 aircraft, CEO Dave Calhoun has kept an increasingly low profile in recent months. Now Calhoun faces a very public grilling from US senators accusing Boeing of putting profit before safety. A hearing on Tuesday will put the CEO on the spot to defend his record and salvage his legacy as he prepares to step down later this year. Investors who have endured a 32% stock slump this year and watched Boeing’s credit rating come dangerously close to junk status have already shifted their focus to Calhoun’s yet-undisclosed successor. New Chairman Steve Mollenkopf, who took over as part of a senior management shakeup in March, is leading the search for the next CEO — and the hunt has picked up speed in recent weeks, say people close to the matter. “Everyone is focused on the next leader, hopefully someone who can redeem them from this sorry episode,” said Richard Aboulafia, a managing director with AeroDynamic Advisory. The CEO’s reckoning before US lawmakers comes as Boeing navigates one of the most turbulent stretches of its century-long history. The manufacturer has faced a customer revolt over quality lapses illuminated by the mid-air blowout in early January. The Justice Department, Congress and other federal agencies are probing the company. FAA Chief Michael Whitaker has lamented too lax regulatory oversight, vowing to keep Boeing on a tight leash until there’s real evidence of progress.<br/>