Boeing stripped its CEO of his chairman title and an analyst thinks it's the best possible outcome for him and the embattled company

Business Insider | 10/15/2019 | David Slotnick
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Boeing CEO Dennis Muilenburg lost his additional title as chairman of the company's board last week, as the board decided to split the jobs into two separate roles.

The company said that it maintains full confidence in Muilenburg, and that the move was meant to allow him to focus more on the day-to-day operations as the company works to get the troubled 737 Max back in the air.

Interview - Business - Insider - Courteney - Keatinge

In an interview with Business Insider, Courteney Keatinge, the head of environmental, social, and governance research at Glass Lewis explained that the move has her feeling more confident in the company's stability and direction.

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Boeing - CEO - Dennis - Muilenburg - Title

Boeing CEO Dennis Muilenburg lost his title as chairman of the company's board late last week, nearly a year after the first of two fatal crashes of the 737 Max aircraft sent the company into a tailspin.

Muilenburg retains his position as CEO following the board's decision to split the two jobs into separate roles. David L. Calhoun, a board member, was elected to serve as non-executive chairman.

Board - Confidence - Dennis - CEO - Division

"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.

As Boeing scrambles to get the 737 Max passenger jet, which has been grounded worldwide since mid-March, back into service, the board's decision raised questions about Muilenburg's future at the company, and Boeing's recovery prospects as it faces numerous investigations and lawsuits by victims' families and airline customers.

Move - Measure - Effort - Company - Groundwork

Some view the move as a punitive measure or an effort by the company to lay groundwork for a leadership change, but there is no known consensus about whether that is a likely outcome.

Business Insider spoke with Courteney Keatinge, the head of environmental, social, and governance research...
(Excerpt) Read more at: Business Insider
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