Tag

Management Shakeup

All articles tagged with #management shakeup

aviation-industry1 year ago

"Boeing's Leadership Crisis: Navigating Accountability and Diversity Challenges"

Emirates Airline president Tim Clark emphasized the need for Boeing to be led by engineers and prioritize safety and quality in its governance model to address its current crisis, following a series of mid-flight technical failures and increased scrutiny from regulatory agencies. Critics have highlighted the reported sidelining of engineers in Boeing's senior management ranks, as the company undergoes a major management shakeup. The Federal Aviation Administration's recent audit found non-compliance issues in Boeing's manufacturing process control, parts handling, and product control, prompting the need for a comprehensive corrective action plan to address systemic quality-control issues and safety culture.

business1 year ago

Boeing CEO Dave Calhoun and Executives Step Down Amid Safety Crisis

Boeing CEO Dave Calhoun will step down at the end of 2024 as part of a management shakeup, with board chair Larry Kellner also resigning. Steve Mollenkopf will replace Kellner as chair, and Stephanie Pope will take over as president and CEO of Boeing Commercial Airplanes. The changes come amid increased scrutiny and calls for major changes at the company following a series of quality and manufacturing flaws, culminating in an incident involving a Boeing 737 Max 9.

finance1 year ago

"The Reason Behind Chemours Stock's 37% Morning Crash"

Chemours stock plummeted 37.3% after announcing a delay in releasing its Q4 and full-year financial results for 2023, along with the replacement of its CEO, CFO, and controller. Preliminary estimates indicate a 12% sales decline and a shift from profit to loss in 2023. The company cited potential material weaknesses in its internal financial reporting and mentioned reports to its ethics hotline. With a likely loss of $225-235 million, the stock's future remains uncertain, leading to a very bad news day for Chemours.

business1 year ago

"Boeing's 737 MAX Program Chief Departs Amid Turmoil"

The head of Boeing's troubled 737 MAX program is leaving the company, with Katie Ringgold set to succeed Ed Clark as vice president and general manager for the program and the Renton, Washington factory. This management shakeup comes as Boeing faces continued scrutiny over its handling of the Alaska Airlines incident, prompting the company to enhance its focus on ensuring quality and safety requirements are met. Elizabeth Lund will take on the new role of senior vice president for BCA Quality, focusing on quality control and assurance.

businessaviation1 year ago

"Boeing 737 Max Program Leader Ousted Amid Safety Incidents"

Boeing has ousted the head of its 737 Max program, Ed Clark, following quality control concerns after a door plug panel from a 737 Max 9 aircraft blew off during an Alaska Airlines flight. Elizabeth Lund has been appointed as the senior vice president of quality, while Katie Ringgold will take over as vice president and general manager of the 737 program and Renton, Wash. plant. This comes amid ongoing scrutiny of Boeing's quality control following the fatal crashes of 737 Max 8 aircraft in 2018 and 2019.

finance1 year ago

Goldman Sachs Faces Shake-Up as Top Executive Jim Esposito Plans Surprise Exit

Jim Esposito, co-head of Goldman Sachs' global banking and markets division, is leaving after nearly three decades, raising questions about the race to succeed CEO David Solomon. His departure follows a period of high-profile management and board changes for the Wall Street giant. Esposito's exit could shift attention to other potential CEO candidates, including president John Waldron and asset and wealth management head Marc Nachmann. Goldman is undergoing significant changes as it recovers from a challenging year, with profits down 24% and several other high-profile departures from the management ranks.

business2 years ago

Alibaba Shakes Up Leadership and Assets Amidst Rival's Success

Alibaba Group Holding Ltd. has replaced Trudy Dai, one of its founding partners, as head of its main Chinese e-commerce platforms Tmall and Taobao, and plans to create a new entity to manage its investment assets globally. The move is part of Alibaba's efforts to rejuvenate the company and regain market dominance after facing regulatory scrutiny and increased competition. The company aims to take direct control of under-performing divisions and explore sales of non-core businesses. CEO Eddie Wu intends to cultivate new managers for the long term and focus on cloud and e-commerce, Alibaba's two biggest businesses.