NEWS: Boeing CEO Muilenburg resigns December 23, 2019 at 02:12PM


David Calhoun appointed CEO and President

Embattled CEO Dennis Muilenburg resigned as CEO and the from the company board. He will be replaced by current board Chairman David Calhoun. The board will now be run by Lawrence Kellner.
From the company release:

The Board of Directors decided that a change in leadership was necessary to restore confidence in the Company moving forward as it works to repair relationships with regulators, customers, and all other stakeholders.

Under the Company’s new leadership, Boeing will operate with a renewed commitment to full transparency, including effective and proactive communication with the FAA, other global regulators and its customers.

The 737 Max story continues to drag and you have to wonder if his quick departure was because of any pending revelations.

On Friday Boeing launched a rocket that was intended to dock with the International Space Station but it failed to meet the objective and returned back to the US.

Update: Shares of Boeing opened up 3.5%. I always think it has to be humbling for a CEO when shares rise on the news of his/her ouster.

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