Dennis Muilenburg Steps Down From Top Job at Boeing, Chairman David Calhoun Named President & CEO
After one of the most tumultuous years in the company’s history, Boeing announced Monday that Dennis A. Muilenburg has resigned as Chief Executive Officer and Board director effective immediately.
Boeing announced Monday that their Board of Directors has named David L. Calhoun, the company’s current Chairman, as President and Chief Executive Officer, effective January 13, 2020. Mr. Calhoun will remain a member of the Board and Lawrence W. Kellner will become Chairman of the Board. Dennis A. Muilenburg has resigned from his positions as Chief Executive Officer and Board director effective immediately. Boeing’s current Chief Financial Officer, Greg Smith, will serve as interim CEO and Mr. Calhoun has exited all other non-Boeing commitments. In Monday’s announcement, Boeing’s newly named President and CEO, David L. Calhoun said,
“I strongly believe in the future of Boeing and the 737 MAX. I am honored to lead this great company and the 150,000 dedicated employees who are working hard to create the future of aviation.”
Boeing stated in today’s announcement that the change in leadership is designed to bring transparency and better communication with regulators and customers as the company works to safely return the 737 MAX to service. Also commenting on Monday’s announcement, Boeing’s newly named Chairman, Lawrence W. Kellner added,
“On behalf of the entire Board of Directors, I am pleased that Dave has agreed to lead Boeing at this critical juncture. 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.”
On the news, shares in the aerospace giant (NYSE: BA) were trading 2.24% higher at $335.40/share (10:06AM - 12/23/19).