Co has ousted Chief Executive Officer Dennis Muilenburg, following a year of intense scrutiny and industrial setbacks set off by twin fatal crashes of its 737 MAX jetliner.
The departure comes as the world’s largest planemaker struggles to win regulatory approvals for its grounded best-selling jetliner while trying to repair trust with passengers and airline customers. “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’s shares, which have fallen more than 20 per cent since March, rose more than 2 per cent to US$335.24 in early trading.