Boeing’s outgoing CEO Dave Calhoun will also exit Caterpillar’s board of directors, according to a report from Reuters.
Calhoun informed Caterpillar of his decision to forgo re-election to the board at the company’s 2024 annual shareholder meeting, the company said in an April 3 regulatory filing.
“Mr. Calhoun’s decision was not the result of any disagreement with the Company. The Board of Directors is very grateful to Mr. Calhoun for his valuable contributions and many years of dedicated and excellent service,” the statement said. Caterpillar’s Board of Directors currently has 10 members. Calhoun has been a director since 2011.
Calhoun has served as president and CEO of The Boening Company since January 2020. He plans to leave his post as the company’s top executive by the end of this year amid regulatory pressure following a mid-flight panel blowout on a 737 MAX 9 plane in January.
Prior to working for Boeing, Calhoun held executive roles with The Blackstone Group, Nielsen Holdings and General Electric.
