As part of a wide-ranging management transition prompted by the airline's extensive safety issue following a 737 MAX plane's mid-air panel burst in January, Boeing CEO Dave Calhoun will resign by year's end.

The aircraft manufacturer also announced that Stephanie Pope will take over as CEO and President of Boeing Commercial Airplanes following Stan Deal's retirement. The board has nominated Steve Mollenkopf as its new chair.

Since the incident on January 5, when a door plug tore off an Alaska Airlines airplane almost 16,000 feet above the ground, Calhoun has been under pressure. As the corporation works to address safety and quality concerns, it is under intense regulatory scrutiny and manufacturing has been curtailed by US authorities.

A number of US airline CEOs requested meetings with Boeing directors this week to voice their concerns over the Alaska Airlines 737 MAX 9 crash. They said it was an atypical expression of their dissatisfaction with Calhoun and the manufacturer's issues.

The business is also in negotiations to purchase Spirit AeroSystems, a former subsidiary.
Airlines already experiencing supply delays from competitor Airbus and Boeing have been irritated by the company's predicament, and the aircraft manufacturer has been using up more cash than anticipated in this quarter.

"For years, we prioritized the movement of the airplane through the factory over getting it done right, and that's got to change," Brian West, the company's CFO, stated last week.

Recent contracts for 65 aircraft from two of Boeing's major Asian clients were secured by the company's chief rival, Airbus, which some observers saw as an indication of executives' misgivings about Boeing. In premarket trade, Boeing shares rose 2.8% in response to the announcement.