- Title: Muilenburg was sacrificed for appearances - analyst
- Date: 23rd December 2019
- Summary: PORT WASHINGTON, NEW YORK, UNITED STATES (DECEMBER 23, 2019) (REUTERS VIA SKYPE) (SOUNDBITE) (English) R.W. MANN & COMPANY, FOUNDER, ROBERT MANN, SAYING: "So, I think, you know, I think while they are intended to be the replacement for the two jobs that Mr. Muilenburg was holding, first off, I'd point out that, in addition, they have been on the board for a number of years. I think in Mr. Calhoun's case, for a decade, during which the MAX program was developed, and during which the program, you know, the board was fully informed of MAX's progress. So, again, I think that these aren't... these aren't... these folks aren't new to the issue. They will be new faces. And maybe what was required was a new face to, in effect, interface with legislators, with regulators, with the markets and... and with the traveling public."
- Embargoed: 6th January 2020 18:36
- Keywords: 737 MAX jetliner Boeing Chief Executive Dennis Muilenburg David Calhoun R.W. Mann Richard Aboulafia Robert Mann Teal Group aircraft airline flight jet
- Location: RENTON, WASHINGTON, + NEW YORK, + PORT WASHINGTON, NEW YORK, + WASHINGTON, D.C., + DALLAS, TEXAS, UNITED STATES, TOKYO, JAPAN, UNKNOWN LOCATIONS
- City: RENTON, WASHINGTON, + NEW YORK, + PORT WASHINGTON, NEW YORK, + WASHINGTON, D.C., + DALLAS, TEXAS, UNITED STATES, TOKYO, JAPAN, UNKNOWN LOCATIONS
- Country: USA
- Topics: Company News Markets,Economic Events
- Reuters ID: LVA00DBB7600D
- Aspect Ratio: 16:9
- Story Text: Boeing ousted Chief Executive Dennis Muilenburg on Monday (December 23) as the world's biggest planemaker sought to control an escalating crisis that has seen it halt production of its best-selling 737 MAX jetliner following two fatal crashes.
The sacking comes as Boeing struggles to mend strained relations with the regulators it needs to win over to get the grounded 737 back in the air, and seeks to regain trust with passengers and airline customers around the world.
Chairman David Calhoun will take over as CEO and president, effective from Jan. 13, the company said, adding that a change in leadership was necessary to restore confidence.
The company's shares, which have dropped more than 20% over the past nine months, rose nearly 4% in early trading.
(Production: Aleksandra Michalska)
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