Boeing CEO to step down in broader management shakeup after blowout of a panel on a 737 Max | KLRT [Video]

Boeing CEO David Calhoun will step down from the embattled plane maker at the end of the year as part of a broader management shakeup after a series of mishaps at one of America’s most storied manufacturers.

Stan Deal, president and CEO of Boeing’s commercial airplanes unit, will retire immediately, with Stephanie Pope, the company’s chief operating officer, will lead the division.

The company said board Chairman Lawrence Kellner does not plan to stand for re-election in May.

Boeing has been under intense pressure since early January, when a panel blew off a brand-new Alaska Airlines 737 Max. Investigators say bolts that help keep the panel in place were missing after repair work at the Boeing factory.

The Federal Aviation Administration has stepped up its scrutiny of the company, including putting a limit on production of 737s. An FAA audit of Boeing’s 737 factory near Seattle gave the company failing …