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Baystreet Staf - Thursday, February 22, 2024
Boeing Replaces Head Of 737 Max Program
U.S. aircraft manufacturer Boeing (BA) has replaced the head of its troubled 737 Max program less than two months after a panel blew off one of the jets mid-flight.
The company announced that the 737 program's current head, Ed Clark, is leaving the company. He will be replaced by Katie Ringgold, who will be the president of the program.
At the same time, Boeing named Elizabeth Lund to a newly created position of senior vice president of quality for the commercial airplane unit.
The leadership changes are effective immediately, said Boeing.
The executive shift comes after a Jan. 5 accident aboard an Alaska Airlines flight prompted a new crisis of confidence at Boeing.
The commercial airplane maker has been trying to recover after fatal crashes of its Boeing 737 Max 8 aircraft in 2018 and 2019 killed 346 people on board those flights.
The recent blown off panel is the latest in a series of quality problems on Boeing aircraft that have delayed deliveries to customers and hurt the company's earnings.
The door plug that blew off the nearly new 737 Max 9 aircraft used by Alaska Airlines has also brought increased scrutiny and restrictions from federal regulators in the U.S.
The Federal Aviation Administration (FAA) has stepped up its inspections of Boeing's Max aircraft and has stopped the company from increasing its output until quality controls are improved.
The stock of Boeing has declined 20% so far in 2024 and is trading at $201.57 U.S. per share.
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