It was determined that a change in leadership was needed in order to restore public confidence in Boeing, repairing relationships with regulators, customers, and all other stakeholders. 

Therefore, Boeing [NYSE: BA] announced that its Board of Directors has named current Chairman, David L. Calhoun (right), as Chief Executive Officer and President, effective January 13, 2020. Mr. Calhoun will remain a member of the Board. In addition, Board member Lawrence W. Kellner (left) will become non-executive Chairman of the Board effective immediately.  

The Company also announced that Dennis A. Muilenburg has resigned from his positions as Chief Executive Officer and Board director effective immediately. Boeing Chief Financial Officer Greg Smith will serve as interim CEO during the brief transition period, while Mr. Calhoun exits his non-Boeing commitments. 

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. 

Under the Company's new leadership, Boeing will operate with a renewed commitment to full transparency, including effective and proactive communication with the FAA, other global regulators and its customers. 

Mr. Kellner said that on behalf of the entire Board of Directors, he is pleased that Dave has agreed to lead Boeing at this critical juncture.  He added that Dave has deep industry experience and a proven track record of strong leadership, and he recognizes the challenges they must confront. The Board and Kellner look forward to working with him and the rest of the Boeing team to ensure that today marks a new way forward for their company. 

Mr. Calhoun said, he strongly believes in the future of Boeing and the 737 MAX. He is honored to lead this great company and the 150,000 dedicated employees who are working hard to create the future of aviation.