Industry Dennis Muilenburg resigns as Boeing CEO

With immediate effect, Muilenburg has resigned from its position as Chief Executive Officer and Board director at Boeing. After it became clear, that the federal regulators would not certify the 737 MAX until the year´s end, the board decided to fire Muilenburg.

This announcement was made shortly after Boeing stated, that it would need to halt the production of the 737 MAX.

Current Chairman David L. Calhoun has now become the new president and Chief Executive Officer, while Lawrence W. Kellner has become non-executive Chairman of the Board immediately. While Calhoun exits his non-Boeing commitments, Chief Financial Officer Greg Smith will serve as interim CEO during this transition period.

After the problems with the 737 MAX and the following months of failed re-certification and other PR-problems, the board saw that a change in leadership was necessary to restore confidence in the company. Boeing is in the process of repairing relationships with regulators, customers and all stakeholders.

Kellner said: "On behalf of the entire Board of Directors, I am pleased that Dave has agreed to lead Boeing at this critical juncture [...] He added, "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."

Calhoun added: "I strongly believe in the future of Boeing and the 737 MAX. I am honoured to lead this great company and the 150,000 dedicated employees who are working hard to create the future of aviation."

Muilenburg had been CEO at Boeing since the middle of 2015. During his time at the manufacturer, the stock soared, and Boeing saw strong demand for new plans in order to meet the growing demand for travel opportunities throughout the world.