Boeing CEO loses chairman role to focus on 737 Max crisis

Boeing Chief Executive Dennis Muilenburg speaks during a press conference after the annual shareholders meeting at the Field Museum on April 29, 2019 in Chicago, Illinois. Boeing announced earnings fell 21 percent in the first quarter after multiple crashes of the company’s bestselling plane the 737 Max. (Photo by Jim Young-Pool/Getty Images)

Jim Young | Getty Images News | Getty Images

Boeing‘s board removed┬áCEO Dennis Muilenburg as chairman so he can focus on running the company after the 737 Max crisis, the company said Friday.

Boeing is facing numerous investigations and criticism over its 737 Max planes, following two fatal crashes within five months of one another that killed 346 people.

The manufacturer is scrambling to get regulators to allow its 737 Max planes to fly again. They have been grounded worldwide since mid-March, after a second crash.

“The board said splitting the chairman and CEO roles will enable Muilenburg to focus full time on running the company as it works to return the 737 MAX safely to service, ensure full support to Boeing’s customers around the world, and implement changes to sharpen Boeing’s focus on product and services safety,” the company said in a statement.

The company said in a press release that it had elected lead director David Calhoun to serve as non-executive chairman.

Muilenburg said in a statement that he fully supports the board’s decision.

“Our entire team is laser-focused on returning the 737 MAX safely to service and delivering on the full breadth of our company’s commitments,” he said in the statement.

This is breaking news. Please check back for updates.

Thanks to the Courtesy of :

Leave a Reply