Boeing CEO Dennis Muilenburg to step down immediately

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Boeing Company President and Chief Executive Officer Dennis Muilenburg testifies to the House Transportation and Infrastructure Committee, Wednesday, Oct. 30, 2019, during a hearing on Capitol Hill in Washington. (AP Photo/Jacquelyn Martin)

(AP) – Boeing’s CEO is resigning amid ongoing problems at the company over the troubled Max 737 aircraft.

The board of directors said Monday that Dennis Muilenburg is stepping down immediately. The board’s current chairman David Calhoun will become president and CEO on January 13.

The board said a change in leadership was necessary to restore confidence in the company as it works to repair relationships with regulators and stakeholders.

Calhoun says he strongly believes in the future of Boeing and the 737 Max. The plane was involved with two deadly crashes.

Board member Lawrence Kellner will become non-executive chairman of the board. “On behalf of the entire board of directors, I am pleased that Dave has agreed to lead Boeing at this critical juncture,” Mr. Kellner said in a prepared statement. “Dave has deep industry experience and a proven track record of strong leadership, and he recognizes the challenges we must confront. The board and I look forward to working with him and the rest of the Boeing team to ensure that today marks a new way forward for our company.” Boeing last week said that it would halt Max production in January.

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