Should Shareholders Take Aim at Boeing?
Posted on 03/13/2024
The Boeing Company has spent decades on building a reputation of quality and safety. That trust has evaporated for both passengers and to an extent some airlines. It took less than 6 years to undue to this trust. Boeing’s common stock (ticker: BA) is down 27% for the year 2024.
Just this week, a Boeing 787 Dreamliner flying chartered by Latam Airlines from Australia to New Zealand plunged suddenly mid-flight. Some passengers were hurt mid-flight. John Barnett, a whistleblower and former employer quality control manager at Boeing, was founded dead with a gun shot wound in his truck in a parking lot. The Charleston Police Department is continuing to investigate the death. Barnett was in South Carolina to offer evidence for legal proceedings linked to a defamation lawsuit against Boeing. Even websites like AlternativeFlights.com are turning up, showing the aircraft of flights.
Here is the list of the current board of directors via the website of Boeing.
David (Dave) Calhoun, the CEO of Boeing, has had these perilous actions under his watch. Calhoun is a former executive of General Electric. Calhoun replaced Dennis Muilenburg, who has fired, after the two crashes involving the 737 MAX, in 2018 and 2019, that killed 346 people. The cause of the crashes was from faulty software.
Board of Directors
Robert A. Bradway, Chairman and CEO, Amgen Inc.
David L. Calhoun, President and CEO, The Boeing Company
Lynne M. Doughtie, Former U.S. Chairman and CEO, KPMG
David L. Gitlin, Chairman and CEO, Carrier Global Corporation
Lynn J. Good, Chairman, President and CEO, Duke Energy Corporation
Stayce D. Harris, Former United Airlines Pilot; Former Inspector General, U.S. Air Force
Akhil Johri, Former Executive Vice President and CFO, United Technologies Corporation
David L. Joyce, Former President and CEO, GE Aviation; Former Vice Chair, General Electric Company
Lawrence W. Kellner, Chair of the Board Former Chairman and CEO, Continental Airlines, Inc.
Steven M. Mollenkopf, Former CEO, Qualcomm Incorporated
John M. Richardson, 31st Chief of Naval Operations, U.S. Navy; Former Director of the Naval Nuclear Propulsion Program, U.S. Navy
Sabrina Soussan, Chairman and CEO, SUEZ SA
Ronald A. Williams, Former Chairman, President and CEO, Aetna Inc.
An audit by the Federal Aviation Administration found that Boeing’s 737 Max jet production line found many issues with the production process. The FAA found that Boeing failed 33 of the 89 audits. Southwest Airlines, which exclusively flies Boeing 737s, had its stock impacted on the public markets.