April 19, 2024
Steve Mollenkopf as CEO of Qualcomm. Picture courtesy Qualcomm

Steve Mollenkopf retired as CEO of San Diego’s Qualcomm in 2021 after beating again a company takeover try, however he faces a brand new problem as chairman of the board of trouble-plagued Boeing.

He joined the plane maker’s board in 2020 whereas nonetheless at Qualcomm, and takes over as chairman following the resignations on Monday of Boeing Chair Larry Kellner and CEO David Calhoun.

Mollenkopf, {an electrical} engineer by coaching, succeeded in beating a takeover try by Broadcom and fought off lawsuits from the Federal Trane Commison and Apple throughout his six years main Qualcomm.

Now he’ll lead the seek for a brand new CEO of Boeing, which faces a sequence of issues of safety involving 737 MAX jets which have shaken the trade’s confidence in the corporate and hampered its skill to extend manufacturing to fulfill excessive demand for the plane.

“I’m honored and humbled to step into this new position,” stated Mollenkopf. “I’m totally assured on this firm and its management — and collectively we’re dedicated to taking the correct actions to strengthen security and high quality, and to fulfill the wants of our prospects.

“I additionally wish to thank each Larry and Dave for his or her distinctive stewardship of Boeing throughout a difficult and consequential time for Boeing and the aerospace trade,” he added.

Below Calhoun’s management, the corporate had struggled to maintain tempo with competitor Airbus, with its inventory shedding 43% since 2020.

The corporate is within the midst of federal investigations and U.S. authorities curbed manufacturing whereas Boeing makes an attempt to repair security and high quality issues. It’s in talks to purchase former subsidiary Spirit AeroSystems to attempt to get extra management over its provide chain.