NEW YORK: Boeing announced Tuesday that it will lift the company’s retirement age for David Calhoun to 70, enabling him to remain as chief executive potentially through April 2028.

Boeing, which has a standard 65-age retirement-age, cited Calhoun’s progress in “building regulator and customer confidence” in enabling the 737 MAX to return to service following two fatal crashes that led to a lengthy grounding.

Boeing said Chief Financial Officer Greg Smith, who is 54, would retire in July. The action means Calhoun could remain CEO through April 1, 2028, although “there is no fixed term associated with his employment,” Boeing said.