Advertisement
Boeing fires CEO Dennis Muilenburg as 737 MAX crisis deepens
- Chairman David Calhoun will take over as CEO and president
- The 737 MAX grounding was the biggest crisis of Muilenburg’s 34-year tenure at Boeing, where he started as an intern in 1985
Reading Time:3 minutes
Why you can trust SCMP
Boeing has ousted Chief Executive Dennis Muilenburg as the world’s biggest planemaker seeks to control an escalating crisis that has seen it halt production of its bestselling 737 MAX aircraft following two fatal crashes.
The sacking comes as Boeing struggles to mend strained relations with the regulators it needs to win over to get the grounded 737 back in the air, and seeks to regain trust with passengers and airline customers around the world.
Chairman David Calhoun will take over as CEO and president, effective from January 13, the company said, adding that a change in leadership was necessary to restore confidence.
Advertisement
The company’s shares, which have dropped more than 20 per cent over the past nine months, rose nearly 4 per cent in early trading.
The decision capped a week of dramatic setbacks for Boeing, from a decision to halt production of the 737, a public slap-down from the Federal Aviation Administration (FAA), a ratings downgrade and an embarrassing space launch glitch on Friday.
Advertisement
Advertisement
Select Voice
Choose your listening speed
Get through articles 2x faster
1.25x
250 WPM
Slow
Average
Fast
1.25x