This post was originally published on this site
https://i-invdn-com.akamaized.net/news/LYNXNPEF2G0QA_M.jpg
© Reuters.Investing.com — Boeing (NYSE:) said it had replaced Dennis Muilenburg as chief executive officer, as the company struggles to recover from the multi-billion dollar fiasco over its 737 MAX airplane.
“The 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,” Boeing (NYSE:) said in a statement on Monday.
Boeing (NYSE:) said it has named current Chairman, David L. Calhoun, as Chief Executive Officer and President, effective January 13, 2020. Calhoun will remain a member of the Board. In addition, Board member Lawrence W. Kellner will become non-executive Chairman of the Board effective immediately.
Chief Financial Officer Greg Smith will serve as interim CEO during the brief transition period, while Calhoun exits his non-Boeing commitments.
The company said a week ago that it would halt production of the 737 MAX, citing a massive inventory backup that it can’t shift as long as regulators refuse to declare it airworthy.
Fusion Media or anyone involved with Fusion Media will not accept any liability for loss or damage as a result of reliance on the information including data, quotes, charts and buy/sell signals contained within this website. Please be fully informed regarding the risks and costs associated with trading the financial markets, it is one of the riskiest investment forms possible.
