Boeing CEO Dave Calhoun decides to step down amid rising aviation accidents

As the US aerospace giant Boeing faces safety crises in its airplanes amid recent incidents including two crashes, the CEO Dave Calhoun decided Monday to leave his post by this year's end, according to a letter he wrote to the employees.

Boeing had been under immense pressure worldwide for repeated malfunctions on its planes. The issues led to the two aircraft crashes of the 737 Max in 2018 and 2019, leaving 364 passengers dead.

The most recent one was when a door blew outside in an Alaska Airlines 737 Max in the early days of this year. The cumulative loss suffered by Boeing due to the malfunctioning topped $31 billion, reported CNN.

“The eyes of the world are on us," CEO Boeing said while mentioning his plans for leaving the post.

“We are going to fix what isn’t working, and we are going to get our company back on the track towards recovery and stability.”

In the letter, Calhoun called the Alaska Airlines incident “a watershed moment for Boeing.”

Dave Calhoun told CNBC Monday that it was 100% his decision to step down.

The CEO had been under the spotlight by many critics who were observing the way the company was being run, including the concerns on safety and quality.