Boeing Fires CEO Dennis Muilenburg: 737 MAX Debacle Results in Big Leadership Changes

[Tsing]

Boeing has terminated Dennis Muilenburg and replaced its former CEO with company chairman David Calhoun. Lawrence W. Kellner will now serve as Chairman of the Board.

The decision was prompted by the public relations disaster surrounding Boeing's 737 MAX aircraft, which were involved in two fatal crashes that happened just six months apart. Investigations found that anti-stall software (which pilots weren't properly trained on) was to blame.

Boeing's leadership change is meant to "restore confidence in the Company moving forward as it works to repair relationships with regulators, customers, and all other stakeholders." It's also a commitment toward "full transparency, including effective and proactive communication with the FAA, other global regulators and its customers."

Mr. Calhoun said, "I strongly believe in the future of Boeing and the 737 MAX. I am honored to lead this great company and the 150,000 dedicated employees who are working hard to create the future of aviation."

 

[Burticus]

Don't cry for Dennis, he's walking away with 30-40 MIL and still gets his 11 MIL pension. I think he'll be "OK".

Boeing’s CEO Has Made Millions. His Total Payout Could Be Worth More Than a 737 MAX Jet.

Boeing CEO Dennis Muilenburg resigned under a cloud Monday. Muilenburg, however, will be walking away with millions in compensation. It’s a “golden parachute” to soften the blow for the executive who joined the commercial aerospace giant in his early 20s.

www.barrons.com

 

[Uvilla]

Is that really "big changes"?
If they don't change their profit first, second and third attitude plus their quarter to quarter attitude, nothing meaningful will change.
This just smells of scapegoat.

 

[Grimlakin]

So the old CEO is jumping out of the airplane with his golden parachute fully deployed... while the rest of the company gets to nose dive due to bad nose cone software?

 

[Dan_D]

So the old CEO is jumping out of the airplane with his golden parachute fully deployed... while the rest of the company gets to nose dive due to bad nose cone software?

Failing upwards. We've seen it tons of times with other large companies. GM CEO during the bailout had a massive 8 million dollar a year salary and walked away from leading the company into ruin with millions more.

This is the way.

 

[stickx911]

Ugh. I get it, ceo’s have thousands of decisions a day they probably give lip service to at most, but how do they continue to get away with this? As a company, they made decisions that killed lots of people, anything less than a full on recall and re design is unacceptable. A full on vw style buy back.

Actually want to gain consumer confidence? Do that plus some. It was a horrific accident, but becoming millionaires off killing people isn’t ok.