Muilenburg ejected after the 737 MAX fiasco

Boeing (NYSE: BA) has announced the dismissal of Dennis Muilenburg as executive director while the company struggles to recover from the billionaire fiasco of its 737 MAX aircraft.

“The Board of Directors has decided that a change of direction is necessary to restore confidence in the company for the future while working to repair relations with regulators, customers and all other interested parties, said Boeing (NYSE: BA) in a statement this Monday.

Boeing (NYSE: BA) has announced the appointment of the current president, David L. Calhoun, as executive director and president, as of January 13, 2020. Calhoun will continue to be a board member. In addition, Lawrence W. Kellner, another board member, will be the new non-executive chairman of the board with immediate effect.

CFO Greg Smith will take over the duties of interim executive director during the brief transition period, until Calhoun abandons his commitments outside Boeing.

The company said a week ago that it would stop the manufacture of 737 MAX, citing a huge excess of inventory that it cannot solve while regulators refuse to declare it ready to fly.

Biden resorts to declaration of a regional state of emergency The president of the United States, Joe Biden, has been Read more

US-Europe Trade War Worsens, Could Trump Defeat Change That?

US-Europe Trade War Worsens, Could Trump Defeat Change That? The World Trade Organization (WTO) resolution on US subsidies to Boeing Read more

$2.4 Trillion Stimulus Package Proposed in US With Second Direct Payments to Americans

$2.4 Trillion Stimulus Package Proposed in US With Second Direct Payments to Americans. The markets start October with gains, supported Read more

Bankruptcies and store closures among US retailers hit a record in the first half of the year due to the pandemic

Bankruptcies and store closures among US retailers hit a record in the first half of the year due to the Read more

Federal Reserve will continue to support the US economy without defining mechanisms

Federal Reserve will continue to support the US economy without defining mechanisms. The Federal Reserve remains committed to using all Read more

WTO rules in favor of China. The Trump Administration rejects the ruling and considers that it demonstrates the "inefficiency" of the WTO

WTO rules in favor of China. The Trump Administration rejects the ruling and considers that it demonstrates the "inefficiency" of Read more

Stock markets are out of touch with reality and the bubble may burst

Stock markets are out of touch with reality and the bubble may burst. Throughout the month of August, the US Read more

The Fed changes its way of acting after a historic speech

The Fed changes its way of acting after a historic speech. "A true turning point" or "historic speech" are some Read more

American Airlines cuts 19,000 jobs and plans to fly 50% less than before

American Airlines cuts 19,000 jobs and plans to fly 50% less than before.   American Airlines (NASDAQ: AAL) will cut Read more

Conversation between the US and China. Neither is interested in breaking agreements.

Conversation between the US and China. Neither is interested in breaking agreements. Conversation between the US and China continue, European Read more

Leave a Reply