- Chairman Dave Calhoun is set to replace Muilenburg, the company announced
- Boeing said ‘a change in leadership was necessary to restore confidence’
- Company had already said it will temporarily halt 737 MAX production in January
- Its shares, which have fallen 20% since March, rose more than 3% to $339.29
Boeing has fired its CEO Dennis Muilenburg following a year of intense scrutiny and industrial setbacks set off by twin fatal crashes of its 737 MAX jetliner.
Chairman David Calhoun will serve as CEO and president, effective January 13, the company said Monday.
‘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,’ the company said.
The company announced a decision to suspend production of its best-selling 737 MAX model from January earlier this month. It is the plane maker’s biggest assembly-line halt in more than 20 years.