Search ARN News Centre

Boeing CEO ousted as 737 MAX crisis deepens

Monday, 23 December 2019 18:28

Olivier Douliery / AFP

Boeing has announced that Chief Executive Officer Dennis Muilenburg is stepping down.

It comes as the planemaker suffered a series of setbacks with its 737 Max jetliner following twin fatal crashes. 

"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," a statement from the firm read.

Chairman David Calhoun will take over as chief executive and president from January 13.

Share

More from Business

  • Nasdaq set to confirm bear market as Trump tariffs trigger recession fears

    The tech-heavy Nasdaq Composite index was set to confirm it was in a bear market on Friday, down more than 20 per cent from a recent record high, as investors fled riskier assets on fears that tariffs imposed by President Donald Trump could spark a trade war and tip the global economy into recession.

  • Dana Gas and Crescent Petroleum exceed 500M boe in Khor Mor field

    UAE-based Dana Gas and Crescent Petroleum, alongside their partners in the Pearl Petroleum consortium, have said the cumulative production from their Khor Mor project, the largest non-associated gas field in Iraq, has exceeded 500 million barrels of oil equivalent (boe).

  • China to impose tariffs of 34% on all US goods

    China has announced a slew of additional tariffs and restrictions against US goods as a countermeasure to sweeping tariffs imposed by US President Donald Trump. The Finance Ministry said it would impose additional tariffs of 34 per cent on all US goods from April 10.

  • Shares bruised, dollar crumbles as Trump tariffs stir recession fears

    Stocks limped to the end of the week on Friday, the dollar was set for its worst week in a month while gold flirted with a record peak as investors feared US President Donald Trump's sweeping tariffs would tip the global economy into a recession.

  • Wall Street futures sink as tariffs fuel recession fears

    US stock index futures tumbled on Thursday after President Donald Trump's sweeping tariffs on major trade partners heightened fears of an all-out trade war that could push the global economy into a recession.

Latest Local News

News

Quick Links

Get the app

  • Available on the App Store
  • Available on Google Play

© 2025 ARN and Aiir. All Rights Reserved.