World's largest planemaker struggles to regain regulatory approvals and customers' trust after fatal crashes of its jetliner. FMTNews Boeing
Boeing CEO Dennis Muilenburg watches as family members hold up photos of those killed in Ethiopian Airlines Flight 302 and Lion Air Flight 610 crashes during a hearing in Washington last October.
Chairman David Calhoun will take over as CEO and president, effective Jan 13, the company said, adding that a change in leadership was necessary to restore confidence in the company.The 737 MAX grounding was the biggest crisis of Muilenburg’s 34-year tenure at Boeing, where he started as an intern in 1985, rising through the company’s defense and services ranks to the top job in 2015.A senior industry source called the wording of Boeing’s statement “brutal”.
Aerospace analyst Richard Aboulafia said the appointment of Calhoun, who previously served as head of Blackstone Group’s private equity portfolio operation, will provide needed short-term stability, but not the long-term “emphasis on engineering” the company needs.
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