Outgoing Boeing CEO Calhoun to not stand for re-election to Caterpillar board

(Reuters) – Dave Calhoun, outgoing CEO of Boeing, will not stand for re-election to the board of Caterpillar at the company’s 2024 annual shareholders meeting, the construction equipment maker said in a regulatory filing on Wednesday.

His decision was not the result of any disagreement between him and Caterpillar, the Texas-based company said.

Calhoun announced late last month that he would step down from the top role at Boeing by the end of this year as the planemaker faces regulatory heat once again after a mid-flight panel blowout on a 737 MAX 9 plane in January.

(Reporting by Deborah Sophia in Bengaluru; Editing by Shilpi Majumdar)