Oct 11, 2019

Boeing CEO loses chairman title

Orion Rummler

In this image, Muilenburg stands in the midst of a crowd that is facing the opposite direction. He is facing the camera. — Boeing CEO Dennis Muilenburg at the Economic Club of New York on Oct. 2. Photo: Johannes Eisele/AFP via Getty Images

Boeing CEO Dennis Muilenburg will no longer serve as chairman of the board of directors as he focuses on returning "the 737 MAX safely to service," the company announced in a Friday press release.

Where it stands: Boeing is separating the roles of chairman and CEO. David Calhoun, Boeing's current independent lead director, will take on the role of elected non-executive chairman, as Muilenburg stays on as president and director.

The big picture: Muilenburg is scheduled to testify in front of Congress on Oct. 30 to address the two Boeing 737 MAX 8 crashes in Indonesia and Ethiopia that killed 346 people over the past year.

A panel convened by the Federal Aviation Administration found on Friday that the Boeing 737 flight control system — suspected of causing both crashes — was not evaluated in concert with other systems.

Go deeper: What we've learned from the Boeing 737 MAX crashes

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Boeing CEO loses chairman title

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