10:33 AM EDT, 03/25/2024 (MT Newswires) -- Boeing ( BA ) disclosed several senior leadership changes on Monday, including the upcoming departure of Chief Executive Dave Calhoun, as the aircraft manufacturer looks to regain its footing following recent production problems and quality control issues.

Calhoun will step down as CEO at the end of this year, Boeing ( BA ) said in a statement. Board Chair Larry Kellner will also not stand for re-election at the company's upcoming annual shareholders meeting. Shares of Boeing ( BA ) gained 1.4% in Monday trading.

Steve Mollenkopf, who has served on the board since 2020 and is a former CEO of Qualcomm (QCOM), will succeed Kellner as chair. He will also lead the company's process to find a successor to Calhoun.

The planned departures of Calhoun and Kellner come amid recent scandals engulfing the troubled jet maker. In January, the US Federal Aviation Administration launched an investigation into the company after a 737 Max 9 aircraft operated by Alaska Air (ALK) suffered a mid-air panel blowout. The regulator ordered an immediate grounding of the model flown by other airlines as it sought to increase oversight of Boeing's ( BA ) production and manufacturing.

"The eyes of the world are on us, and I know that we will come through this moment a better company," Calhoun wrote in a letter to Boeing ( BA ) employees. "We will remain squarely focused on completing the work we have done together to return our company to stability after the extraordinary challenges of the past five years, with safety and quality at the forefront of everything that we do," he wrote. Calhoun took over as CEO in January 2020.

Additionally, Boeing ( BA ) said Stan Deal will retire from his role as CEO of the company's commercial airlines division. Stephanie Pope, who became chief operating officer in January, will succeed Deal, effective Monday.

Earlier in March, the FAA revealed plans to investigate three recent incidents involving 737 planes being flown domestically by United Airlines (UAL) and American Airlines (AAL). A post-landing inspection of one of the 737s operated by United Airlines showed a missing panel, while the crew of an American Airlines flight reported a "flap issue," according to the FAA's website.

Boeing ( BA ) refrained from issuing full-year financial guidance when it reported its fourth-quarter results at the end of January, as it outlined plans to improve the quality of its 737 Max planes. The company posted a core loss of $0.47 per share for the December quarter, narrowing from a loss of $1.75 the year before, while revenue increased 10% to $22.02 billion. Both metrics topped market expectations.

Price: 190.73, Change: +1.88, Percent Change: +0.99