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Aerospace giant Boeing has accepted a plea agreement with the U.S. Department of Justice earlier this summer for violating the conditions of its 2021 prosecution agreement involving the serious safety and compliance issues that came to light following the 2018 and 2019 crashes of 737 MAX aircraft. In this plea agreement, Boeing must spend at least $455 million on improving its safety and compliance functions within the next three years. Ethisphere Chief Strategy Officer Erica Salmon Byrne explains what all of this means for Boeing, and most importantly, how the company can turn these challenges into a roadmap for long-term profitability and success.
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