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Boeing’s (NYSE:BA) planned acquisition of Spirit AeroSystems Holdings (NYSE:SPR) for $4.7 billion puts the fuselage supplier’s leader in a position to possibly take over for Boeing (BA) Chief Executive Dave Calhoun when he departs by the end of the year, Fortune reported, citing interviews with executive search professionals.
Patrick Shanahan, a former Boeing (BA) executive and acting defense secretary who became the CEO of Spirit AeroSystems (SPR) last September, has the engineering background and reputation as “Mr. Fix-It” to handle the top job at Boeing (BA).
Boeing’s (BA) next CEO will have to continue the work of fixing the company’s safety culture, which has been intensely scrutinized by regulators, lawmakers and customers after a near catastrophe on a 737 Max 9 jetliner in January. The plane flown by Alaska Airlines (ALK) lost a metal panel shortly after takeoff, depressurizing the cabin and forcing an emergency landing.
Since then, the Federal Aviation Administration has capped Boeing’s (BA) output of new 737s until the agency is satisfied that the company has fixed its manufacturing problems. Boeing’s (BA) stock has lost 29% of its value since the beginning of the year.
“Along with a willingness to step on toes, though, Shanahan would have to build trust with an unhappy workforce, as well regulators, suppliers, investors and a disgruntled public. It’s not clear that he wants such a high-profile role,” according to the July 9 report by Fortune’s Diane Brady and Nicholas Gordon.
