Boeing boss Dennis Muilenburg quits in wake of 737 Max crisis

Boeing boss Dennis Muilenburg quits in wake of 737 Max crisis

"That's not Boeing's problem right now".

Dennis Muilenburg first joined Boeing in 1985.

Boeing also celebrated news Friday when it successfully launched Starliner, an uncrewed spacecraft that's slated to send astronauts into space next year. The uncrewed test flight, which came after years of delays and setbacks, was meant to be the final major test before it was finally ready to fly humans. That is costing the aerospace giant billions of dollars in compensation claims and falling share price.

Calhoun will be forced to hit the ground running as the timeline for the return of the 737 Max remains in question.

But Hall said it was not clear whether Calhoun was a long-term choice, adding "If he's going to do it long-term, I would think that someone who has more knowledge of aeronautical the industry - hands-on experience - might be a good choice". "If there was a final straw, it was the way the [production] shutdown happened with not a lot of explanation or plans as to what would happen".

Being transparent, and showing familiarity with Boeing's technology and its limits, will be key attributes for any CEO seeking to rebuilding the company's image in the days, months and years ahead.

At Blackstone Group, where Calhoun has worked since January 2014, he has focused on boosting the value of company holdings, telling Bloomberg in 2017 interview that he prefers when a leadership team "plays offense instead of defense". Just last week, Boeing said it would temporarily halt output of the Max, which has been grounded since March.

"On behalf of myself and the Boeing company, we are sorry, deeply and truly, sorry", Muilenburg said during his opening statement.

Muilenburg acknowledged errors in failing to give pilots more information on a stall-prevention system before the crashes and for taking months to disclose that it had made optional an alarm that alerts pilots to a mismatch of flight data on the 737 MAX.

Congressman Peter DeFazio, who leads a committee investigating Boeing, told the New York Times this weekend that the firm's decision to retain Muilenburg suggested it was not "truly serious" about safety. Mr. Muilenburg has stepped down effective immediately.

Some board members expressed concerns that a leadership change could destabilize the company. "There was a feeling that the company needs stability". He had been CEO since July 2015 and presided over robust growth at the company. He previously held the chairman role as well but relinquished that seat in October.

But the hard-nosed approach came back to haunt Boeing and its CEO.

Calhoun states in Boeing's release that he believes in the both the company's future and that of the 737 MAX. UU., other global regulators and their customers, according to a company statement on Monday.

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