Boeing announced Tuesday that it will lift the company's retirement age for David Calhoun to 70, enabling him to remain as chief executive 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.

jmb/bgs