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4/20, 3:20 PM (Source: TeleTrader)
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Boeing changes retirement age rule, lets CEO stay at helm

The Boeing Company announced on Tuesday that its board of directors modified the firm rulebook, changing the standard retirement age from 65 to 70, in order to enable CEO David Calhoun to hold his post until 2028.

The company issued a statement unveiling also that firm's CFO Gregory Smith decided to leave the company, with his resignation taking effect on July 9.

"Greg is a remarkable business leader and we will always be thankful for his many contributions to Boeing. His stewardship of the company's financial position for nearly a decade, and his leadership during the severe challenge our industry has faced as a result of the global pandemic, have been essential to positioning Boeing for a bright future," Calhoun commented.

Breaking the News / BU