CHICAGO - Shares of aerospace giant Boeing (NYSE:BA) Co. and agribusiness leader Archer-Daniels-Midland Company (NYSE:ADM) experienced declines today following separate company-specific news. Boeing shares fell after the Federal Aviation Administration (FAA) recommended inspections for certain models of its 737-900ER aircraft. In a separate development, Archer-Daniels-Midland's stock price dropped after the company announced its Chief Financial Officer, Vikram Luther, was placed on administrative leave due to an internal inquiry. Ismael Roig has been appointed as the interim CFO.
Boeing is facing a new challenge as the FAA's recommendation for inspections could potentially affect operational schedules and costs for the affected 737-900ER models. The exact details of the FAA's concerns or the scope of the recommended inspections were not specified. Boeing has not yet released a statement regarding the FAA's recommendation or its plans to address the issue.
Meanwhile, Archer-Daniels-Midland, a major player in the agricultural sector, is dealing with corporate governance matters. The announcement about CFO Vikram Luther being placed on administrative leave suggests an internal review is underway, though the nature of the inquiry remains undisclosed. The company moved swiftly to maintain financial leadership by naming Ismael Roig as the interim CFO, ensuring continuity in its financial operations.
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