A Senate subcommittee is set to hold a hearing next week to examine Boeing’s (BA) safety culture. This comes after airlines reported numerous safety incidents in relation to the company’s Boeing 737 MAX jet line. Melius Research Managing Director of Aerospace, Defense & Space Robert Spingarn joins Market Domination to provide insight on the upcoming hearing,
Spingarn hones in on cultural issues within the company, noting the "distance" between the factory floor and executives. The divide was intensified by Boeing’s decision to move its headquarters from Seattle to Chicago in the early 2000s, Spingarn says, calling the move a "disservice."
In light of Boeing’s leadership shake-up, Spingarn believes "the changes are gonna be more significant than they were in the past," which may help the company see a turnaround. With the current CEO, Dave Calhoun, set to resign at the close of 2024, Spingarn is uncertain whether Calhoun will remain in the role if a successor is chosen sooner. He emphasizes the need for the next CEO to have an engineering background and production floor experience — recommending names like Pat Shanahan and Gwen Shotwell.
#youtube #boeing #stocks
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