DIRS.INFO The most relevant business & tech news

☆ Boeing chief strategy officer to depart in 2024 as part of restructuring
▼ + stars: | 2023-11-16 | by ( Valerie Insinna | ) www.reuters.com time to read: +2 min

A Boeing logo is seen at the company's technology and engineering center in Sao Jose dos Campos, Sao Paulo state, Brazil October 10, 2023. REUTERS/Gabriel Araujo/File Photo Acquire Licensing RightsWASHINGTON, Nov 16 (Reuters) - Marc Allen will step down as Boeing's (BA.N) chief strategy officer at the end of the year and leave the company in 2024 as the U.S. planemaker pares down its strategy arm. In a letter to employees on Thursday, Boeing CEO David Calhoun said the U.S. planemaker will not fill the chief strategy officer role going forward. Boeing will shrink its strategy and corporate development organization and instead have "strategy teams directly joining the business units they support," Calhoun said. Chief Financial Officer Brian West and Mike D’Ambrose, the company's top human resources official, will create a realignment plan for the strategy unit over the next month, Calhoun said.

Persons: Sao Jose dos Campos, Gabriel Araujo, Marc Allen, planemaker, David Calhoun, Calhoun, Brian West, Mike D’Ambrose, Allen, Valerie Insinna, Tim Hepher, Chris Reese, Bill Berkrot Organizations: Boeing, REUTERS, Rights, Embraer, EMBR3, Airbus, Thomson Locations: Sao Jose, Sao Paulo state, Brazil, U.S, China

Boeing said production and deliveries of 737s will be slowed as it does inspections and additional work to fix a pressure-sealing section of the planes. Boeing reported a $482 million loss in the quarter on a contract with the Air Force to build two new presidential jets because of higher estimated manufacturing costs. Revenue rose 13% to $18.10 billion. Deliveries of 737s slipped to 70 from 88 in the same period last year, but deliveries of 787 Dreamliners rose. Shares of the company rose about 3% in premarket trading.

Persons: David Calhoun Organizations: Boeing, Air Force, Revenue, Max Locations: Arlington , Virginia

☆ Some workers are super commuting to avoid relocating amid a push for employees to return to offices
▼ + stars: | 2023-09-13 | by ( Kylie Kirschner | ) www.businessinsider.com time to read: +4 min

Instead of relocating to be near their office, some workers are super commuting a few days a week. But some workers, forced to appear in person at the office, have taken commuting to the extreme — super commuting to the office hours away by plane. For some workers, especially ones who were hired remotely, a return to office would ostensibly mean relocating. AdvertisementAdvertisementBoeing CEO David Calhoun set an extreme — and much-criticized — example of extreme commuting. Are you being affected by return-to-office policies and considering an extreme commute?

Persons: David Calhoun, LOGAN CYRUS, Brian West, —, Frank Croasdale, Sophia Celentano, Celentano Organizations: Boeing, Ogilvy, Get, Service, Meta, Apple, Google, Employees, Wall Street Journal, Getty, Wall Street Locations: Wall, Silicon, Virginia, New Hampshire, South Carolina, Connecticut, Calhoun, West, California, Austin , Texas, Texas, Austin, Charleston, New Jersey

☆ Boeing's CEO is commuting to the office by private jet, and some employees who have returned to the office are mocking him, report says
▼ + stars: | 2023-09-11 | by ( Pete Syme | ) www.businessinsider.com time to read: +3 min

Boeing is trying to get employees back to the office with happy hours and alpaca visits, the WSJ reports. CEO David Calhoun has taken over 400 private jet trips from his homes and is rarely seen in the office. David Calhoun took over as Boeing CEO shortly before the pandemic, when like most office workers, he started working from home. Is he like at Lake Sunapee or something in New Hampshire?" The Journal reports that several Boeing employees then began displaying "Lake Sunapee" signs in their offices, and others had souvenir mugs like one that read: "Love Lake Life."

Persons: David Calhoun, alpacas —, Brian West, hasn't, Donald Trump's, Jim Cramer, What's, Cramer, we're Organizations: Boeing, Service, Street Journal, CNBC Locations: Wall, Silicon, Chicago, Virginia, New, South Carolina, Connecticut, New Hampshire

☆ See photos of tech's elite all dressed up at the White House
▼ + stars: | 2023-06-23 | by ( Grace Mayer | Hasan Chowdhury | ) www.businessinsider.com time to read: +2 min

Some of the tech and business industries' top CEOs attended a White House dinner Thursday. Take a look at the CEOs and industry giants who made the guest list and dressed up in their finest. The White House invited leaders from across the tech and business industries for a dinner held for Prime Minister of India Narendra Modi's visit to Washington. The visit has been a crucial one for Biden, as the White House looks to build closer ties with India. Here's a look at the CEOs and industry giants who made the guest list and dressed up in their finest.

Persons: OpenAI, India Narendra Modi's, Biden, Mark Zuckerberg, Elon Musk, Tesla, Dana White, James Murdoch, Rupert Murdoch's, Jane Fraser, Adena Friedman, Deven Parekh, Hemant Taneja, Catalyst, Ralph Lauren, M, David Calhoun, Larry Culp, Doug McMillon Organizations: White, Apple, Google, Morning, Microsoft, White House, Meta, Twitter, UFC, Citigroup, Nasdaq, Insight Partners, Boeing, Electric, Walmart Locations: Washington, India, China, Taiwan

☆ Boeing and Ryanair CEO on massive Ryanair order for Boeing 737-Max-10s
▼ + stars: | 2023-05-09 | by ( ) www.cnbc.com time to read: 1 min

In this videoShare Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailBoeing and Ryanair CEO on massive Ryanair order for Boeing 737-Max-10sMichael O’Leary, Ryanair, and David Calhoun, Boeing, join 'Squawk on the Street' to discuss Ryanair's recent order from Boeing, Calhoun's thoughts on the Boeing 737-Max-10 and more.

☆ Boeing and Riyadh Air CEOs break down megadeal for Dreamliner planes
▼ + stars: | 2023-03-14 | by ( ) www.cnbc.com time to read: 1 min

In this videoShare Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailBoeing and Riyadh Air CEOs break down megadeal for Dreamliner planesBoeing CEO David Calhoun and Riyadh Air CEO Tony Douglas join CNBC’s “Squawk on the Street” to discuss the massive deal for Boeing to sell 78 Dreamliner planes to two Saudi airlines.

☆ The CEO of Boeing missed a 2022 goal and did not get a $7 million bonus — but he still made $22.5 million
▼ + stars: | 2023-03-06 | by ( Huileng Tan | ) www.businessinsider.com time to read: +3 min

Boeing CEO David Calhoun lost out on a $7 million bonus in 2022 for missing one of his goals. But he still made $22.5 million in 2022. In February, Boeing approved a $5.3 million incentive to encourage Calhoun to stay and lead the company. Despite the delay, Calhoun still received $22.5 million in total compensation for 2022 — this is 6.6% higher than the $21.1 million he received for 2021, per Boeing. Calhoun took over the CEO position at Boeing in January 2020 — two months before the World Health Organization declared the COVID-19 outbreak a global pandemic.

☆ Boeing CEO Calhoun just missed out on a $7 million bonus. But he still got a raise
▼ + stars: | 2023-03-04 | by ( Chris Isidore | ) edition.cnn.com time to read: +4 min

New York CNN —Boeing CEO David Calhoun missed out on a $7 million bonus last year, but still got a raise. Boeing’s proxy filing Friday disclosed that when Calhoun started as CEO of Boeing in January of 2020, the board gave him a $7 million bonus package if he completed a list of goals by the end of 2023. Because of that, the company’s filing said Calhoun will not get the $7 million. And in February the board awarded Calhoun 25,000 shares of Boeing stock as a retention bonus. In May last year, Michael O’Leary, CEO of Ryanair — Europe’s largest discount carrier, which has ordered nearly 400 jets from Boeing since 2010 — let loose a profanity-laced criticism of Boeing management.

☆ Boeing Board Denies CEO David Calhoun a Performance Bonus
▼ + stars: | 2023-03-03 | by ( Andrew Tangel | ) www.wsj.com time to read: 1 min

Boeing Co.’s board of directors declined to award Chief Executive David Calhoun a $7 million performance bonus, citing delays with Boeing’s new 777X jetliner. The Arlington, Va.-based plane maker has said the large wide-body plane won’t be delivered to customers until 2025. Among Mr. Calhoun’s goals when he became CEO in January 2020 was to get the 777X approved by regulators and into airline service by the end of 2023, while ramping up production and deliveries.

☆ Boeing delivers last 747, saying goodbye to 'Queen of the Skies'
▼ + stars: | 2023-02-01 | by ( Valerie Insinna | ) www.reuters.com time to read: +4 min

"It's the airplane that redefined the industry and redefined air travel," said Guy Norris, co-author of "Boeing 747: Design and Development Since 1969." British billionaire entrepreneur Richard Branson, who was inspired to start an airline with a single Boeing 747 after getting stuck on a delayed flight, earlier on Tuesday called it a "wonderful beast" as he bid farewell. When Boeing confirmed in July 2020 that it would end 747 production, it was already only producing at a rate of half an aircraft a month. Smith said all 747 program workers were transferred to other jobs or voluntarily retired. Boeing will remain tied to the 747 through the aftermarket business and the Air Force One replacement program, which Boeing won in 2018.

☆ From Disney to Target to Boeing, retirement is a thing of the past for CEOs
▼ + stars: | 2022-12-11 | by ( Bob Woods | ) www.cnbc.com time to read: +5 min

SUN VALLEY, ID - JULY 13: (L-R) Bob Iger, chairman and chief executive officer of The Walt Disney Company, Dick Costolo, former chief executive officer of Twitter, Lachlan Murdoch, co-chairman of Twenty-First Century Fox, Sundar Pichai, chief executive officer of Google, and Randall Stephenson, chief executive officer of AT&T, mingle during the annual Allen & Company Sun Valley Conference, July 13, 2018 in Sun Valley, Idaho. The average tenure for departing CEOs during that same time period was about 11 years, up from nine years in 2020. That's not surprising, because of the impact of the pandemic and [other] crises, where boards put CEO succession on hold," Anterasian said. "In our research, boards put CEO succession on hold during crises," Anterasian said. At Disney, Iger has said he will only stay on for two years before a successor takes over.

Investors have been skeptical due to production delays, cuts in the jet delivery outlook and mounting losses at its defense business. Boeing projects that higher jet deliveries will generate $3 billion-$5 billion in free cash flow next year, higher than $1.5 billion-$2 billion expected this year. The company last month predicted it would deliver 375 MAX planes this year, lower than a July target of "low 400s." Both 737 MAX and 787 jets hold the key to its free cash flow and profits. Boeing needs to shore up its cash flow to help pay off its debt.

☆ Boeing reports quarterly loss on problems in Air Force One, tanker programs
▼ + stars: | 2022-10-26 | by ( Leslie Josephs | ) www.cnbc.com time to read: +3 min

A Boeing 737 MAX 10 airliner pauses while taxiing on the flight line before its first flight at Renton Municipal Airport on June 18, 2021 in Renton, Washington. Boeing reported a $3.3 billion quarterly loss Wednesday as problems in its defense unit countered strides in its commercial aircraft business. Revenue: $15.96 billion vs. $17.76 billion expected. Boeing reported losses of $2.8 billion in its defense unit on programs including the KC-46 tanker and Air Force One. Alaska Airlines on Wednesday said it would exercise options to buy 52 Boeing 737 Max planes to its fleet and rights for 105 more of them through 2030.

A worker cuts a cast at Mitchell Aerospace, Inc., a manufacturer of light alloy sand castings for the aerospace industry, in Montreal, Quebec, Canada September 9, 2022. REUTERS/Christinne MuschiMONTREAL/CHICAGO, Sept 27 (Reuters) - Canada's Mitchell Aerospace has a booming business - and a shop-floor shortfall that is reverberating from Boeing (BA.N) to Airbus (AIR.PA). A slowing global economy has started to unwind some supply chain shortages that hit manufacturers and contributed to inflation. But aircraft parts makers are still reeling from deep job cuts undertaken when planes were grounded during the pandemic, a sign of how uneven the supply chain crisis remains. Airbus' production target has declined, while Boeing warned supply chain pressures have capped its ability to ramp up output.

Search resuls for: "David Calhoun"

15 mentions found