Benzinga - by Ramakrishnan M, Benzinga Editor.
In a world where corporate leaders are urging employees to return to the office, David Calhoun, Boeing Co‘s (NYSE:BA) Chief Executive Officer, is seemingly charting his own course.
What Happened: Despite taking the helm just before the COVID-19 pandemic, Calhoun never quite made the move back to a traditional office, according to a Wall Street Journal report.
Instead, he’s taken a unique approach to his work, opting for the tranquility of his two luxurious homes.
Calhoun’s workdays are far from conventional. He reportedly travels between his sprawling waterfront mansion on New Hampshire’s Lake Sunapee and a gated resort community in South Carolina, both accessed via private jet.
According to flight records reviewed by The Wall Street Journal, Boeing’s private jets have made more than 400 trips to airports near Calhoun’s homes in the past three years.
In contrast, Chief Financial Officer Brian West, who joined Boeing in 2021, hasn’t budged from his residence in New Canaan, Connecticut, according to the report. The company, recognizing West’s preference, recently set up a small office just a five-minute drive from his home.
Why It Matters: Boeing last year made the decision to shift its corporate headquarters to Arlington, Virginia from Chicago, Illinois — a move that would help its senior management and other key members get closer to decision-makers at the White House.
Calhoun’s management style, marked by his absence from a traditional office setting, has raised eyebrows among some of Boeing’s employees, as per the Journal.
While the company reportedly allows for hybrid work arrangements and about 30% of recent job postings offer remote options, Calhoun’s approach differs from the norm.
This news comes as corporate giants like Amazon, Meta, and Tesla discourage remote work, even hinting at potential firings.
Calhoun took over the reins after two fatal crashes involving Boeing’s 737 MAX planes that killed 346 people and led to a global grounding of the jets between March 2019 and December 2020.
Although Boeing’s stock has lost over 35% since Calhoun became CEO, the company managed to generate free cash flow last year — the first time since 2018 — and has targeted a free cash flow of $3-$5 billion this year.
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