March 26, 2024 • 9 mins
David L. Calhoun, born on April 18, 1957, is an American businessman and the current President and Chief Executive Officer (CEO) of The Boeing Company, one of the world's largest aerospace manufacturers and defense contractors. With a career spanning over four decades, Calhoun has made significant contributions to various industries, including aviation, transportation, and private equity.
Early Life and Education Calhoun was born and raised in Philadelphia, Pennsylvania. He grew up in a middle-class family, where his father worked as a sales representative for a local company, and his mother was a homemaker. From a young age, Calhoun demonstrated a strong work ethic and a keen interest in business and leadership.
He attended Parkside High School in Philadelphia, where he excelled academically and was actively involved in various extracurricular activities, including sports and student government. After graduating from high school in 1975, Calhoun enrolled at Virginia Tech, where he pursued a bachelor's degree in accounting.
During his time at Virginia Tech, Calhoun continued to display his leadership skills and was involved in several student organizations, including the Student Government Association and the Virginia Tech Union. He also worked part-time jobs to help finance his education, demonstrating his determination and resourcefulness.
Early Career Upon graduating from Virginia Tech in 1979, Calhoun began his professional career at General Electric (GE), joining the company's highly competitive Financial Management Program. This program provided him with a solid foundation in finance and business management, preparing him for future leadership roles.
Over the next 26 years, Calhoun held various positions at GE, steadily climbing the corporate ladder. He worked in several divisions, including GE Transportation, GE Aircraft Engines, and GE Lighting. During his tenure at GE, Calhoun gained a reputation as a talented and strategic leader, known for his ability to drive growth and improve operational efficiency.
One of his most notable accomplishments at GE was his role in the acquisition and integration of Employers Reinsurance Corporation in the late 1980s. As a young executive, Calhoun played a key role in the successful integration of the company, which helped GE expand its presence in the reinsurance industry.
In 2000, Calhoun was appointed as the President and CEO of GE Transportation, a division that manufactured locomotives and other transportation equipment. Under his leadership, GE Transportation experienced significant growth and improved profitability, solidifying its position as a global leader in the transportation industry.
Transition to Private Equity In 2006, after a successful career at GE, Calhoun made the decision to transition to the private equity industry. He joined Blackstone Group, one of the world's largest private equity firms, as a Senior Managing Director and Head of Portfolio Operations.
At Blackstone, Calhoun was responsible for overseeing the operations and growth strategies of the firm's portfolio companies. He worked closely with the management teams of these companies to identify opportunities for improvement and implement strategic initiatives to drive growth and profitability.
During his tenure at Blackstone, Calhoun served on the boards of several high-profile companies, including Nielsen Holdings and Hilton Worldwide. His experience in private equity further enhanced his reputation as a strategic thinker and effective leader, capable of driving results in complex and challenging business environments.
Return to Aviation In 2009, Calhoun returned to the aviation industry when he was appointed as the Chairman of the Board of Directors at Boeing, the world's largest aerospace company. At the time, Boeing was facing significant challenges, including delays in the development of its 787 Dreamliner aircraft and intense competition from its rival, Airbus.
As Chairman, Calhoun played a key role in guiding Boeing through these challenges and setting the company on a path to recovery. He worked closely with the management team to address the issues with the 787 Dreamliner and improve the company's operations and financial performance.
In addition to his role at Boeing, Calhoun also served on the boards of several other companies during this time, including Caterpillar Inc. and Gates Industrial Corporation. His diverse experience across multiple industries provided him with a unique perspective and a broad set of skills that he could apply to his leadership roles.
CEO of Boeing In January 2020, following the resignation of Boeing's previous CEO, Dennis Muilenburg, in the wake of the 737 MAX crisis, Calhoun was appointed as the company's new President and CEO. He took on this role during one of the most challenging periods in Boeing's history, as the company faced the grounding of its 737 MAX airc
Early Life and Education Calhoun was born and raised in Philadelphia, Pennsylvania. He grew up in a middle-class family, where his father worked as a sales representative for a local company, and his mother was a homemaker. From a young age, Calhoun demonstrated a strong work ethic and a keen interest in business and leadership.
He attended Parkside High School in Philadelphia, where he excelled academically and was actively involved in various extracurricular activities, including sports and student government. After graduating from high school in 1975, Calhoun enrolled at Virginia Tech, where he pursued a bachelor's degree in accounting.
During his time at Virginia Tech, Calhoun continued to display his leadership skills and was involved in several student organizations, including the Student Government Association and the Virginia Tech Union. He also worked part-time jobs to help finance his education, demonstrating his determination and resourcefulness.
Early Career Upon graduating from Virginia Tech in 1979, Calhoun began his professional career at General Electric (GE), joining the company's highly competitive Financial Management Program. This program provided him with a solid foundation in finance and business management, preparing him for future leadership roles.
Over the next 26 years, Calhoun held various positions at GE, steadily climbing the corporate ladder. He worked in several divisions, including GE Transportation, GE Aircraft Engines, and GE Lighting. During his tenure at GE, Calhoun gained a reputation as a talented and strategic leader, known for his ability to drive growth and improve operational efficiency.
One of his most notable accomplishments at GE was his role in the acquisition and integration of Employers Reinsurance Corporation in the late 1980s. As a young executive, Calhoun played a key role in the successful integration of the company, which helped GE expand its presence in the reinsurance industry.
In 2000, Calhoun was appointed as the President and CEO of GE Transportation, a division that manufactured locomotives and other transportation equipment. Under his leadership, GE Transportation experienced significant growth and improved profitability, solidifying its position as a global leader in the transportation industry.
Transition to Private Equity In 2006, after a successful career at GE, Calhoun made the decision to transition to the private equity industry. He joined Blackstone Group, one of the world's largest private equity firms, as a Senior Managing Director and Head of Portfolio Operations.
At Blackstone, Calhoun was responsible for overseeing the operations and growth strategies of the firm's portfolio companies. He worked closely with the management teams of these companies to identify opportunities for improvement and implement strategic initiatives to drive growth and profitability.
During his tenure at Blackstone, Calhoun served on the boards of several high-profile companies, including Nielsen Holdings and Hilton Worldwide. His experience in private equity further enhanced his reputation as a strategic thinker and effective leader, capable of driving results in complex and challenging business environments.
Return to Aviation In 2009, Calhoun returned to the aviation industry when he was appointed as the Chairman of the Board of Directors at Boeing, the world's largest aerospace company. At the time, Boeing was facing significant challenges, including delays in the development of its 787 Dreamliner aircraft and intense competition from its rival, Airbus.
As Chairman, Calhoun played a key role in guiding Boeing through these challenges and setting the company on a path to recovery. He worked closely with the management team to address the issues with the 787 Dreamliner and improve the company's operations and financial performance.
In addition to his role at Boeing, Calhoun also served on the boards of several other companies during this time, including Caterpillar Inc. and Gates Industrial Corporation. His diverse experience across multiple industries provided him with a unique perspective and a broad set of skills that he could apply to his leadership roles.
CEO of Boeing In January 2020, following the resignation of Boeing's previous CEO, Dennis Muilenburg, in the wake of the 737 MAX crisis, Calhoun was appointed as the company's new President and CEO. He took on this role during one of the most challenging periods in Boeing's history, as the company faced the grounding of its 737 MAX airc
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Episode Transcript
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(00:00):
David L. Calhoun born on Aprileighteenth, nineteen fifty seven is an American
businessman and the current President and ChiefExecutive Officer CEO of the Boeing Company,
one of the world's largest aerospace manufacturersand defense contractors. With a career spanning
over four decades, Calhoun has madesignificant contributions to various industries, including aviation,
(00:22):
transportation, and private equity, earlylife, and education. Calhoun was
born and raised in Philadelphia, Pennsylvania. He grew up in a middle class
family, where his father worked asa sales representative for a local company and
his mother was a homemaker. Froma young age, Calhoun demonstrated a strong
work ethic and a keen interest inbusiness and leadership. He attended Parkside High
(00:44):
School in Philadelphia, where he excelledacademically and was actively involved in various extracurricular
activities, including sports and student government. After graduating from high school in nineteen
seventy five, Calhoun enrolled at VirginiaTech, where he pursued a bachelor's degree
incounting. During his time at VirginiaTech, Calhoun continued to display his leadership
skills and was involved in several studentorganizations, including the Student Government Association and
(01:11):
the Virginia Tech Union. He alsoworked part time jobs to help finance his
education, demonstrating his determination and resourcefulnessearly career. Upon graduating from Virginia Tech
in nineteen seventy nine, Calhoun beganhis professional career at General Electric GE,
joining the company's highly competitive financial managementprogram. This program provided him with a
(01:33):
solid foundation in finance and business management, preparing him for future leadership roles.
Over the next twenty six years,Calhoun held various positions at GE, steadily
climbing the corporate ladder. He workedin several divisions, including GE Transportation,
GE Aircraft Engines, and GE Lighting. During his tenure at GE, Calhoun
(01:53):
gained a reputation as a talented andstrategic leader, known for his ability to
drive growth and improve operation efficiency.One of his most notable accomplishments at GE
was his role in the acquisition andintegration of Employer's Reinsurance Corporation in the late
nineteen eighties. As a young executive, Calhoun played a key role in the
successful integration of the company, whichhelped GE expand its presence in the reinsurance
(02:17):
industry. In two thousand, Calhounwas appointed as the president and CEO of
GE Transportation, a division that manufacturedlocomotives and other transportation equipment. Under his
leadership, GE Transportation experienced significant growthand improved profitability, solidifying its position as
a global leader in the transportation industry. Transition to private equity In two thousand
(02:42):
and six, after a successful careerat GE, Calhoun made the decision to
transition to the private equity industry.He joined Blackstone Group, one of the
world's largest private equity firms, asa senior Managing Director and Head of Portfolio
Operations. At Blackstone, Calhoun wasresponsible for overseeing the operation and growth strategies
of the firm's portfolio companies. Heworked closely with the management teams of these
(03:05):
companies to identify opportunities for improvement andimplement strategic initiatives to drive growth and profitability.
During his tenure at Blackstone, Calhounserved on the boards of several high
profile companies, including Nielsen Holdings andHilton Worldwide. His experience in private equity
further enhanced his reputation as a strategicthinker and effective leader, capable of driving
(03:27):
results in complex and challenging business environments. Return to aviation. In two thousand
and nine, Calhoun returned to theaviation industry when he was appointed as the
chairman of the board of Directors atBoeing, the world's largest aerospace company.
At the time, Boeing was facingsignificant challenges, including delays in the development
of its seven hundred eighty seven Dreamlineraircraft an intense competition from its rival Airbus.
(03:53):
As chairman, Calhoun played a keyrole in guiding Boeing through these challenges
and setting the company on a pathto recovery. He worked closely with the
management team to address the issues withthe seven hundred eighty seven Dreamliner and improve
the company's operations and financial performance.In addition to his role at Boeing,
Calhoun also served on the boards ofseveral other companies during this time, including
(04:16):
Caterpillar Inc. And Gates Industrial Corporation. His diverse experience across multiple industries provided
him with a unique perspective and abroad set of skills that he could apply
to his leadership roles CEO of Boeingin January twenty twenty, following the resignation
of Boeing's previous CEO, Dennis Mehlenberg. In the wake of the seven hundred
(04:38):
and thirty seven Max crisis, Calhounwas appointed as the company's new president and
CEO. He took on this roleduring one of the most challenging periods in
Boeing's history, as the company facedthe grounding of its seven hundred thirty seven
Max aircraft production delays and the globalCOVID nineteen pandemic. As CEO, Calhoun
(05:00):
one has focused on rebuilding trust inBoeing and restoring the company's reputation for safety
and quality. He has implemented aseries of measures to improve Boeing safety culture,
including the establishment of a new safetymanagement system and the creation of a
permanent Aerospace Safety committee on the company'sboard of directors. Calhoun has also been
working to address the financial impact ofthe seven hundred and thirty seven Max crisis
(05:24):
and the pandemic on Boeing's business.He has implemented cost cutting measures, including
workforce reductions and the consolidation of productionfacilities to help the company weather these challenges.
Under Calhoun's leadership, Boeing has madeprogress in returning the seven hundred and
thirty seven Max to service, withthe aircraft receiving regulatory approval to resume flights
in several countries, including the UnitedStates. The company has also continued to
(05:48):
invest in new technologies and products,such as the seven hundred seventy seven X
aircraft and the Starliner spacecraft to positionitself for future growth. Worship, style,
and philosophy. Throughout his career,Calhoun has been known for his strategic
thinking, strong leadership skills, andability to drive results in challenging business environments.
(06:09):
He is a proponent of continuous improvementand has a track record of implementing
successful growth strategies and operational efficiencies inthe companies he has led. Calhoun is
also known for his ability to buildstrong teams and foster a culture of collaboration
and innovation. He believes in empoweringemployees and creating an environment where they can
(06:29):
thrive and contribute to the company's success. In interviews, Calhoun has emphasized the
importance of transparency, accountability, andeffective communication and leadership. He believes that
leaders should be open and honest withtheir employees, customers, and stakeholders,
and should take responsibility for their actionsand decisions. Philanthropy and personal life.
(06:54):
Outside of his professional life, Calhounis involved in various philanthropic and community organizations.
He serves on the board of trusteesof Virginia Tech, his alma mater,
and is a member of the BusinessRoundtable and Association of CEOs of leading
US companies. Calhoun is also asupporter of various charitable causes, including education
and youth development programs. He hasbeen involved with the Boys and Girls Clubs
(07:15):
of America and has served on theorganization's board of governors. In his personal
life, Calhoun is married and hasfour children. He is an avid golfer
and enjoys spending time with his family. Conclusion, David L. Calhoun's career
is a testament to his leadership skills, strategic thinking, and ability to drive
results in challenging business environments. Fromhis early days at General Electric to his
(07:39):
current role as the CEO of Boeing, Calhoun has consistently demonstrated his ability to
lead companies through periods of growth andtransformation. Throughout his career, Calhoun has
been guided by a set of corevalues, including integrity, accountability, and
a commitment to continuous improvement. Hehas a track record of building strong teams,
(08:00):
fostering innovation, and creating value forshareholders. And stakeholders alike. As
the CEO of Boeing, Calhoun facessignificant challenges in restoring the company's reputation and
financial performance in the wake of theseven hundred thirty seven MAX crisis and the
global pandemic. However, his experience, leadership skills, and strategic vision make
him well suited to guide the companythrough these difficult times and position it for
(08:24):
long term success. Calhoun's impact extendsbeyond the companies he has led. Through
his philanthropic and community involvement, hehas demonstrated a commitment to giving back and
making a positive difference in the livesof others. As he continues to lead
Boeing and shape the future of theaerospace industry, David L. Calhoun's legacy
as a visionary leader and strategist issure to endure. His career serves as
(08:48):
an inspiration to aspiring business leaders anda reminder of the importance of integrity,
resilience, and continuous improvement in achievingsuccess. And this just in Boeing CEO
David Calhoun, whon acknowledged a mistakefollowing an incident with an Alaska Airline's flight
and emphasized the need for improved communicationwith customers. The company is revising its
(09:09):
inspection instructions for the seven hundred thirtyseven Max nine after FAA feedback. The
accident, involving a mid air blowout, has attracted congressional attention and investigations are
ongoing. Calhoun stressed the importance ofevery detail in aviation safety. Thanks for
listening to Quiet. Please remember tolike and share wherever you get your podcasts.
David L. Calhoun born on Aprileighteenth, nineteen fifty seven is an American
businessman and the current President and ChiefExecutive Officer CEO of the Boeing Company,
one of the world's largest aerospace manufacturersand defense contractors. With a career spanning
over four decades, Calhoun has madesignificant contributions to various industries, including aviation,
(00:22):
transportation, and private equity, earlylife, and education. Calhoun was
born and raised in Philadelphia, Pennsylvania. He grew up in a middle class
family, where his father worked asa sales representative for a local company and
his mother was a homemaker. Froma young age, Calhoun demonstrated a strong
work ethic and a keen interest inbusiness and leadership. He attended Parkside High
(00:44):
School in Philadelphia, where he excelledacademically and was actively involved in various extracurricular
activities, including sports and student government. After graduating from high school in nineteen
seventy five, Calhoun enrolled at VirginiaTech, where he pursued a bachelor's degree
incounting. During his time at VirginiaTech, Calhoun continued to display his leadership
skills and was involved in several studentorganizations, including the Student Government Association and
(01:11):
the Virginia Tech Union. He alsoworked part time jobs to help finance his
education, demonstrating his determination and resourcefulnessearly career. Upon graduating from Virginia Tech
in nineteen seventy nine, Calhoun beganhis professional career at General Electric GE,
joining the company's highly competitive financial managementprogram. This program provided him with a
(01:33):
solid foundation in finance and business management, preparing him for future leadership roles.
Over the next twenty six years,Calhoun held various positions at GE, steadily
climbing the corporate ladder. He workedin several divisions, including GE Transportation,
GE Aircraft Engines, and GE Lighting. During his tenure at GE, Calhoun
(01:53):
gained a reputation as a talented andstrategic leader, known for his ability to
drive growth and improve operation efficiency.One of his most notable accomplishments at GE
was his role in the acquisition andintegration of Employer's Reinsurance Corporation in the late
nineteen eighties. As a young executive, Calhoun played a key role in the
successful integration of the company, whichhelped GE expand its presence in the reinsurance
(02:17):
industry. In two thousand, Calhounwas appointed as the president and CEO of
GE Transportation, a division that manufacturedlocomotives and other transportation equipment. Under his
leadership, GE Transportation experienced significant growthand improved profitability, solidifying its position as
a global leader in the transportation industry. Transition to private equity In two thousand
(02:42):
and six, after a successful careerat GE, Calhoun made the decision to
transition to the private equity industry.He joined Blackstone Group, one of the
world's largest private equity firms, asa senior Managing Director and Head of Portfolio
Operations. At Blackstone, Calhoun wasresponsible for overseeing the operation and growth strategies
of the firm's portfolio companies. Heworked closely with the management teams of these
(03:05):
companies to identify opportunities for improvement andimplement strategic initiatives to drive growth and profitability.
During his tenure at Blackstone, Calhounserved on the boards of several high
profile companies, including Nielsen Holdings andHilton Worldwide. His experience in private equity
further enhanced his reputation as a strategicthinker and effective leader, capable of driving
(03:27):
results in complex and challenging business environments. Return to aviation. In two thousand
and nine, Calhoun returned to theaviation industry when he was appointed as the
chairman of the board of Directors atBoeing, the world's largest aerospace company.
At the time, Boeing was facingsignificant challenges, including delays in the development
of its seven hundred eighty seven Dreamlineraircraft an intense competition from its rival Airbus.
(03:53):
As chairman, Calhoun played a keyrole in guiding Boeing through these challenges
and setting the company on a pathto recovery. He worked closely with the
management team to address the issues withthe seven hundred eighty seven Dreamliner and improve
the company's operations and financial performance.In addition to his role at Boeing,
Calhoun also served on the boards ofseveral other companies during this time, including
(04:16):
Caterpillar Inc. And Gates Industrial Corporation. His diverse experience across multiple industries provided
him with a unique perspective and abroad set of skills that he could apply
to his leadership roles CEO of Boeingin January twenty twenty, following the resignation
of Boeing's previous CEO, Dennis Mehlenberg. In the wake of the seven hundred
(04:38):
and thirty seven Max crisis, Calhounwas appointed as the company's new president and
CEO. He took on this roleduring one of the most challenging periods in
Boeing's history, as the company facedthe grounding of its seven hundred thirty seven
Max aircraft production delays and the globalCOVID nineteen pandemic. As CEO, Calhoun
(05:00):
one has focused on rebuilding trust inBoeing and restoring the company's reputation for safety
and quality. He has implemented aseries of measures to improve Boeing safety culture,
including the establishment of a new safetymanagement system and the creation of a
permanent Aerospace Safety committee on the company'sboard of directors. Calhoun has also been
working to address the financial impact ofthe seven hundred and thirty seven Max crisis
(05:24):
and the pandemic on Boeing's business.He has implemented cost cutting measures, including
workforce reductions and the consolidation of productionfacilities to help the company weather these challenges.
Under Calhoun's leadership, Boeing has madeprogress in returning the seven hundred and
thirty seven Max to service, withthe aircraft receiving regulatory approval to resume flights
in several countries, including the UnitedStates. The company has also continued to
(05:48):
invest in new technologies and products,such as the seven hundred seventy seven X
aircraft and the Starliner spacecraft to positionitself for future growth. Worship, style,
and philosophy. Throughout his career,Calhoun has been known for his strategic
thinking, strong leadership skills, andability to drive results in challenging business environments.
(06:09):
He is a proponent of continuous improvementand has a track record of implementing
successful growth strategies and operational efficiencies inthe companies he has led. Calhoun is
also known for his ability to buildstrong teams and foster a culture of collaboration
and innovation. He believes in empoweringemployees and creating an environment where they can
(06:29):
thrive and contribute to the company's success. In interviews, Calhoun has emphasized the
importance of transparency, accountability, andeffective communication and leadership. He believes that
leaders should be open and honest withtheir employees, customers, and stakeholders,
and should take responsibility for their actionsand decisions. Philanthropy and personal life.
(06:54):
Outside of his professional life, Calhounis involved in various philanthropic and community organizations.
He serves on the board of trusteesof Virginia Tech, his alma mater,
and is a member of the BusinessRoundtable and Association of CEOs of leading
US companies. Calhoun is also asupporter of various charitable causes, including education
and youth development programs. He hasbeen involved with the Boys and Girls Clubs
(07:15):
of America and has served on theorganization's board of governors. In his personal
life, Calhoun is married and hasfour children. He is an avid golfer
and enjoys spending time with his family. Conclusion, David L. Calhoun's career
is a testament to his leadership skills, strategic thinking, and ability to drive
results in challenging business environments. Fromhis early days at General Electric to his
(07:39):
current role as the CEO of Boeing, Calhoun has consistently demonstrated his ability to
lead companies through periods of growth andtransformation. Throughout his career, Calhoun has
been guided by a set of corevalues, including integrity, accountability, and
a commitment to continuous improvement. Hehas a track record of building strong teams,
(08:00):
fostering innovation, and creating value forshareholders. And stakeholders alike. As
the CEO of Boeing, Calhoun facessignificant challenges in restoring the company's reputation and
financial performance in the wake of theseven hundred thirty seven MAX crisis and the
global pandemic. However, his experience, leadership skills, and strategic vision make
him well suited to guide the companythrough these difficult times and position it for
(08:24):
long term success. Calhoun's impact extendsbeyond the companies he has led. Through
his philanthropic and community involvement, hehas demonstrated a commitment to giving back and
making a positive difference in the livesof others. As he continues to lead
Boeing and shape the future of theaerospace industry, David L. Calhoun's legacy
as a visionary leader and strategist issure to endure. His career serves as
(08:48):
an inspiration to aspiring business leaders anda reminder of the importance of integrity,
resilience, and continuous improvement in achievingsuccess. And this just in Boeing CEO
David Calhoun, whon acknowledged a mistakefollowing an incident with an Alaska Airline's flight
and emphasized the need for improved communicationwith customers. The company is revising its
(09:09):
inspection instructions for the seven hundred thirtyseven Max nine after FAA feedback. The
accident, involving a mid air blowout, has attracted congressional attention and investigations are
ongoing. Calhoun stressed the importance ofevery detail in aviation safety. Thanks for
listening to Quiet. Please remember tolike and share wherever you get your podcasts.
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