Earlier in the day, Boeing (NYSE:BA) announced adjustments in its leadership structure, with the CEO Dave Calhoun set to depart his position at the end of the year.
Simultaneously, Stan Deal, President and CEO of Boeing Commercial Airplanes (BCA), is retiring and will be replaced by COO Stephanie Pope effective immediately. Furthermore, Board Chair Larry Kellner will not seek re-election and is to be succeeded by Steve Mollenkopf, the former CEO of Qualcomm.
Commenting on the leadership changes at the planemaker, Stifel analysts said the moves “are not surprising.”
“Overall, we view these changes as inline with our expectations but think the reaction will be positive as it's another step toward actionable change following the announcement Boeing may seek to reabsorb supplier Spirit AeroSystems,” analysts said.
“That combination could help Boeing get back on track toward normalizing production and should help reduce pressure on the company by its customers. With a sizable risk premium seemingly pricedin to the stock, we think steps toward normalization have the ability to drive share price upside near-term,” they added.
Analysts at Bank of America shared similar remarks, viewing Boeing's leadership overhaul as a positive development for investors, the aerospace industry, and passengers.
They previously noted that Boeing requires a "drastic cultural overall," starting from the top. Seeing the leadership changes as crucial steps towards displacing the "old guard," they believe this opens the door for a fresh team to start anew.