Monday was a busy day for (NYSE: BA) investors. Not only were they hit with the news that CEO David Calhoun is planning to stand down as CEO of the embattled aviation manufacturer at the end of 2024, but a TD Cowen analyst cut the price target on the stock from $275 to $230 while maintaining an "overweight" rating on the stock.

Unfortunately, Boeing's creditability has been damaged by high-profile incidents that call into question its production quality and strategic direction. A new CEO may be just what the company needs. Fortunately, Boeing's board of directors has improved in recent years by adding industrial heavyweights like former General Electric Aviation CEO David Joyce, current Carrier Global CEO and former Collins Aerospace COO David Gitlin, former United Technologies CFO Akhil Johri.

As such, investors have reason to believe the board will make the right choice in appointing a new CEO.

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Source Fool.com