Boeing Co ousted Chief Executive Dennis Muilenburg as the world's biggest p...
) ousted Chief Executive Dennis Muilenburg 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 company’s shares, which have dropped more than 20% over the past nine months, rose nearly 4% in early trading. It has been by far the biggest crisis of Muilenburg’s tenure at Boeing, where he started as an intern in 1985, rising through the company’s defense and services ranks to the top job in 2015.
Speculation that Muilenburg would be fired had been circulating in the industry for months, intensifying in October when the board stripped him of his chairman title - although he had also twice won expressions of confidence from Calhoun. “Calhoun is respected in the industry,” Aboulafia said. “But long-term, does he bring the right tool kit? Private equity leans companies out. That’s not Boeing’s problem right now.”
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