Boeing CEO Dennis Muilenburg stripped of his title as chairman nearly a year after the first of 2 deadly crashes of Boeing 737 Max jets

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Boeing CEO Dennis Muilenburg has lost his title as chairman of the troubled aircraft manufacturer, nearly a year after the first of two crashes of its 737 Max that together killed 346 people.

Boeing announced late Friday that company directors decided to separate the two jobs and elected one of their own, David L. Calhoun, to serve as non-executive chairman.

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"The board has full confidence in Dennis as CEO and believes this division of labor will enable maximum focus on running the business with the board playing an active oversight role," Calhoun said in a statement issued by the company.

On Friday, a panel of international aviation regulators issued a report critical of Boeing and the Federal Aviation Administration over how the Max was approved to fly.

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The group said Boeing failed to adequately inform the FAA about changes to a key flight-control system implicated in the accidents.

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CHICAGO (AP) — Boeing CEO Dennis Muilenburg has lost his title as chairman of the troubled aircraft manufacturer, nearly a year after the first of two crashes of its 737 Max that together killed 346 people.

Boeing announced late Friday that company directors decided to separate the two jobs and elected one of their own, David L. Calhoun, to serve as non-executive chairman.

Board

"The board has...

(Excerpt) Read more at: Business Insider

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