The Boeing Co.’s [NYSE: BA] board of directors late Friday afternoon replaced Dennis Muilenburg as chairman with independent director David Calhoun, but kept him in place as chief executive officer.
In an October 11 statement, the aerospace and defense company said splitting the roles will enable Muilenburg to focus full time on running the company as it works to return the 737 MAX safely to service, ensure full support to Boeing’s customers, and implement changes to sharpen Boeing’s focus on product and services safety.
The board last week also made several leadership changes to strengthen the company’s governance and safety management processes.
“The board has full confidence in Dennis as CEO and believes this division of labor will enable maximum focus on running the business with the board playing an active oversight role,” Calhoun said. “The board also plans in the near-term to name a new director with deep safety experience and expertise to serve on the board and its newly established Aerospace Safety Committee.”
“I am fully supportive of the board’s action. Our entire team is laser-focused on returning the 737 MAX safely to service and delivering on the full breadth of our company’s commitments,” said Muilenburg.