Boeing CEO Dennis Muilenburg was ousted after a tumultuous period in which the company faced a series of setbacks, including two fatal crashes, delays and numerous issues with its 737 Max airplane
Chairman David Calhoun will take over as CEO, effective January 13, 2020.Boeing said in a press release that its board of directors decided to part ways with Muilenberg in part because its customers and regulators no longer trusted the company's decision-making."A change in leadership was necessary to restore confidence in the company moving forward as it works to repair relationships with regulators, customers, and all other stakeholders," the company said.
"Under the company's new leadership, Boeing will operate with a renewed commitment to full transparency, including effective and proactive communication with the FAA, other global regulators and its customers," the company said in a statement. Boeing's stock rose 3% in early trading Monday.How Muilenburg was oustedMuilenburg was informed Sunday night that Boeing's board of directors would ask him to resign, according to a person familiar with the board's decision.
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