Calhoun takes the lead Boeing is not in the best of company times. Two of the crash of the 737 Max (October 2018-March 2019) has forced regulators worldwide to ground the aircraft. In December the spacecraft Cockpit couldn’t get to the ISS. In the same month an unexpected blow struck the Boeing Australian company Qantas Airways. Two years she had to choose whose aircraft will carry the longest direct flights in the world – more than 19 hours from Sydney to new York and London. Test flights made the Boeing 787 Dreamliner. And the contract eventually went to the main competitor of the Americans – the Airbus. These and other troubles have cost Boeing billions of dollars and employees – bonuses for 2019.
the New year also started with bad news. Although collapsed in Iran and Boeing was shot down by a missile, still people will remain in the memory associated with this brand of tragedy.
And it seemed that all was going well. The former Boeing CEO Dennis Muilenburg assumed the post in July 2015, When it stock prices have tripled (up to March 2019 disaster with the 737 Max): the company increased its production of liners and returned an impressive part of the profits to shareholders through buyback and dividends.
The Boeing Company
Shareholders (data Refinitiv): almost all the shares in free float, the largest investors – the Vanguard Group (7,21%), T. Rowe Price Associates (7.04 per cent).
Capitalization – $188,7 billion
Financial performance (nine months 2019):
revenue was $58,6 billion,
net income of $374 million.
Shipments machinery (nine months 2019): 301 commercial airliner, 173 units of military equipment and one satellite. In 2018: 806 commercial aircraft, 96 units of military equipment and two satellites.
However, Mulenburg, an engineer by training, has relied on technical Yesdata and advice, but was not fluent in diplomacy, says The Wall Street Journal (WSJ). It failed him when the trouble started. First, he made it clear that the collapse of the 737 Max is to blame the foreign pilots and technicians. Then she stretched out a few months before to meet with the relatives of the victims. His explanations about the causes of accidents did not satisfy either the officials or the General public. Now the congressmen are hyping the topic that engineers and pilots were warned about the problems with the software of the aircraft, but the company’s management put pressure on them, demanding silence. Mulenburg caused dissatisfaction with the FAA (Federal aviation administration of the USA), publicly stating that the regulator’s allowed flights of the 737 Max. Relations have deteriorated so much that in early December the head of the FAA Stephen Dixon has publicly stated: Boeing is not able to provide timely and complete data about your software.
737 Max was the most sold model of the aircraft manufacturer. Last year Boeing had planned to deliver to customers more than 900 aircraft, of which 600 737 Max. And put, according to the WSJ, at least 400, for the first time since 2011, losing the lead of Airbus, who managed to convey to buyers 863 aircraft.
the Crash of two Boeing 737 Max led the major aircraft manufacturer to the crisis, prospects of a return to flight and aircraft production unclear Business
At the end of the year, Boeing has estimated the losses due to compensation to the airlines and failure of the schedule of production of the 737 Max at least $9 billion but is interviewed by the American newspaper The Morning Call, analysts believe that figure is greatly underestimated.
problem Emerged and spacecraft Cockpit. Only he went in flight to the ISS, as Muilenburg wrote on Twitter congratulations to the engineers who created the Starliner. Following this came the news that due to errors of the software to the ISS camera will not reach.
22 December the Board of Directors of Boeing discussed via video link with Mulenburg a number of technical issues. And then, without the CEO, decided his fate. On his resignation Mulenburg that evening learned from Calhoun, for 10 years a member of the Board of Directors and another colleague. He was obviously angry, but kept calm, according to the WSJ sources.
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