10/12/2019, 12:42 AM (Source: TeleTrader)
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Boeing separates CEO and chairman roles

The Boeing Company announced on Friday that it decided to separate the roles of CEO and chairman. The aerospace giant noted Dennis Muilenburg will continue to serve as CEO, while David Calhoun will assume the role of non-executive chairman.

The company's board of directors said it decided on the move to allow Muilenburg to focus "full time on running the company as it works to return the 737 MAX safely to service" after the model was grounded worldwide as a result of a safety issue which caused two fatal crashes.

Muilenburg said he was "fully supportive" of the board's decision. Meanwhile, Calhoun insisted the board still has "full confidence" in Muilenburg and added it will soon appoint a new director "with deep safety experience and expertise" to serve on the newly established Aerospace Safety Committee.

Breaking the News / NP