Boeing CEO Fired

Dennis Muilenburg

CBJ — Boeing CEO Dennis Muilenburg has been fired after a disastrous 14 months including two horrific plane crashes of its 737 Max jets that killed 346 people.

In October 2018, a brand-new Max operated by Indonesia’s Lion Air crashed into the sea near Jakarta. Five months later, in March, an Ethiopian Airlines Max went down shortly after takeoff from Addis Ababa.

The 737 Max jets were grounded after that second fatal crash.

Muilenburg will still likely walk away with nearly $40 million in cash and stock as part of his severance.

David Calhoun, currently the chairman of Boeing’s board of directors, was named new CEO. CFO Greg Smith will serve as interim CEO until Calhoun takes on the role on January 13.

Families of some of the victims are saying this firing is not enough and that the entire board of directors should be replaced.

As for whether passengers will ever feel comfortable flying the 737 Max, if and when it returns to service, remains to be seen. Some industry experts say a name change is crucial once it passes all safety tests, but even then it’s got to overcome a massive negative outlook from the public.

@CanBizJournal

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