Boeings top-level unexpected change: he was dismissed as chairman

category:Finance
 Boeings top-level unexpected change: he was dismissed as chairman


As the global grounding storm continued to ferment, Boeings board of directors suddenly announced on the 11th that Dennis Muilenburg would be relieved of his chairmanship.

Boeing said in a bulletin that the separation of the roles of CEO and chairman was intended to focus Milenberg on putting the 737MAX fleet back into use.

The Wall Street Journals Nov. 11 report describes this change at Boeings highest level as unexpected.

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Mirenbergs Air Show in Paris, June 17, from Visual China

Meanwhile, Boeings board of directors elected David L. Calhoun, the current independent chief director, as its non-executive chairman.

Calhoun said that the board of directors is confident that Mirenberg will continue to serve as CEO. It is believed that this division of labor will maximize the focus on business operations, and the board will play an active supervisory role.

Just hours before Boeing made the decision, an international aviation safety regulatory team severely reprimanded Boeing and the Federal Aviation Administration (FAA), saying that the two failures caused the air crashes of Lion Airlines Indonesia (hereinafter referred to as Lion Airlines) and Ethiopian Airlines (hereinafter referred to as Ethiopian Airlines).

Families of Ethiopian Airlines victims weep and mourn at the crash site in Bissau, Ethiopia, March 14, 2008

The investigation of the two air crashes inevitably points to the anti-stall system specially designed by Boeing for 737MAX - Maneuverability Enhancement System (MCAS).

It is outrageous that FAA, as a regulator, has been exposed to constant pressure from its management to complete the authorization of 737MAX by the safety engineering team, while delegating the safety certification to Boeings own team, and on the one hand reducing the review.

The long grounding of Boeings best-selling 737MAX has disrupted plans for global airlines and passengers. The company is considering further production cuts or temporary closure of its assembly plant in Renton, Washington.

737MAX Map Parked at Boeing Renton Factory from Visual China

Boeing is facing repeated setbacks in its attempt to return to 737MAX. Previously, the plan to upgrade the MCAS system to fix the problem was scheduled to be approved by FAA as early as April. However, the discovery of another defect in the aircraft involved further delayed the process.

Boeing has not submitted the revised software to FAA for approval under review by various aviation regulators, further delaying the return of 737MAX to passenger service.

Boeing shares fell 0.13% in after-market trading on November 11. Since the crash in March, the market value of the largest U.S. aircraft exporter has evaporated by about $30 billion.

Source: Observer Network Responsible Editor: Yang Bin_NF4368