08:32 AM EDT, 03/25/2024 (MT Newswires) -- (Updates to include chair and Boeing Commercial Airplanes CEO changes in the second through fifth paragraphs.)

Boeing ( BA ) said Monday that Chief Executive Dave Calhoun intends to step down at the end of 2024.

Boeing ( BA ) also said its board elected Steve Mollenkopf as independent chair, succeeding Larry Kellner, who doesn't intend to stand for reelection at the upcoming shareholder meeting.

Mollenkopf will lead the process of choosing the company's new CEO, the company said.

Boeing ( BA ) said Stephanie Pope was appointed to lead Boeing Commercial Airplanes, effective immediately.

The unit's president and CEO, Stan Deal, will retire from the company, Boeing ( BA ) said.

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