Boeing ousts CEO amid 737 Max crisis—what Cramer and other pros are watching now $BA (via TradingNation)
, somebody with operational experience. You need somebody fairly close to the situation, so, I think this is the right fit for now. ... There's a reason there's only two commercial [original equipment manufacturer]s out there. There's Airbus and Boeing. Bombardier and Embraer have joined forces with each of them, respectively. There's a handful of defense OEMs. So, this is really hard.
"[Muilenburg's ouster was] inevitable, so to speak, given the current changes or lack of change at Boeing and lack of progress in getting the airplane back, and I'm talking about the Max. Certainly, the new chairman, Larry Kellner, is well known to me as my successor and [is the] perfect choice for the job, and I think that David in the new CEO role will really add some value. But I think it shows mostly that Boeing is committed to get this worked out and get it fixed. ... Mr.
Jeff Sonnenfeld, Yale University School of Management's associate dean for leadership studies, called the timing of Muilenburg's departure "noteworthy": "We've probably been expecting that Dennis would not be ... surviving very much longer as CEO, and many people thought that it would be [around] the return to service in the spring, in April. It is unusual to have a CEO basically shot at sundown here so that he's removed immediately when there's no gross malfeasance in office, no deception or integrity issue, and also to have it in the holiday season and to have it in the middle of an unwinding crisis.
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