Boeing CEO Dennis Muilenburg to Step Down Immediately

Dennis Muilenburg to Step Down as Boeing CEO Immediately

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Boeing CEO Dennis Muilenburg will vacate office immediately, according to a statement released by the airplane manufacturer.

The current chairperson of the company’s board of directors, David Calhoun, will take over as president and CEO from January 13.

In the statement, the move is meant to “restore confidence in the company” and “to repair relationships with regulators, customers, and all other stakeholders.”

The airplane company grounded its Max 737 worldwide after two crashes. The first crash happened in October 2018 off the cost of Indonesia, and the second occurred in March 2019 in Ethiopia. The two crashes killed 346 people.

In both crashes, a faulty sensor caused the plane’s MCAS system to push the nose of the plane down, and the pilots did not succeed in regaining control.

Muilenburg has been criticized in the way he handled the MAX crisis.

The company announced it will halt the plane’s production in January.