From The Verge: Boeing CEO Dennis Muilenburg is leaving the company a little more than one year after the first of two fatal crashes involving the company’s 737 Max aircraft, the company announced Monday. Boeing says Muilenburg resigned in its press release, though it also says that the board of directors “decided that a change in leadership was necessary.” The New York Times reports that he was fired.
Muilenburg will be replaced by David L. Calhoun, who currently serves as the chairman of Boeing’s board of directors. Calhoun will also become the company’s president and will retain his chairman post. There will be a “brief transition period” while Calhoun “exits his non-Boeing commitments,” during which the company’s chief financial officer Greg Smith will serve as interim CEO. (Calhoun is currently the head of the private equity arm of major financial firm Blackstone, and spent nearly three decades at General Electric, where ran the conglomerate’s transportation and aircraft engine businesses.) Muilenburg will also lose his board seat.
“[Boeing’s] Board of Directors decided that 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 wrote in a statement about the leadership changes.
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