SEATTLE (Reuters) – Boeing Co (BA.N) Chief Executive Dennis Muilenburg told employees he was “fully supportive” of the board’s decision to split his chairman and CEO roles, allowing him to focus on running the world’s largest planemaker, according to a memo seen by Reuters on Wednesday.
FILE PHOTO: Boeing Chairman, President and CEO Dennis Muilenburg speaks at the New York Economic club luncheon in New York City, New York, U.S., October 2, 2019. REUTERS/Shannon Stapleton/File Photo
A Boeing spokesman did not provide an immediate comment.
Muilenburg said the “division of labor” was the latest action taken by the board and senior company leaders to “strengthen Boeing’s governance and safety management processes” as it struggles to get its fastest-selling 737 MAX jetliner back into the air following deadly crashes.
“I’m accountable to you, our customers, the flying public and all of our stakeholders for delivering on this – and each of us carries our share of the responsibility,” Muilenburg said in the memo sent after the board’s decision was announced on Friday.
Boeing said the board had stripped Muilenburg of his chairmanship title, in an unexpected strategy shift after months of pressure capped by a global aviation task force report that criticized development of the 737 MAX.
Lead Director David Calhoun, a senior managing director at Blackstone Group, will take over as non-executive chairman, Boeing said. It added that the board had “full confidence” in Muilenburg, who will retain the CEO and president titles and remain on the board.
“I’m fully supportive of this division of labor and look forward to continuing my close partnership with Dave,” Muilenburg told employees in the memo.
The decision came some six months after Muilenburg survived a shareholder motion to split his chairman and CEO roles, part of the intense pressure he has faced during the worst crisis of his four years at the helm.
Muilenburg is set to testify before a U.S. House panel later this month and lawmakers have raised questions about Boeing’s actions prior to the 737 MAX certification.
Federal prosecutors aided by the FBI, the Transportation Department Inspector General and several blue-ribbon panels are also investigating the plane’s approval.
Reporting by Eric M. Johnson in Seattle; Editing by Richard Chang
- More experts say peak of second wave 'has already PASSED': Scientists further undermine need for national lockdown as study finds R rate is 1 and cases are falling in the North and Scotland
- Jeff Bezos, 57, writes letter to his 1.3m Amazon employees insisting he isn't retiring and wants to focus on 'passions' including space and climate change as he steps down as CEO and hands reins to Andy Jassy
- Teachers have lost colleagues to Covid-19 and worry about being next. But, they say, no one's listening
- Parler co-owner Bongino pushes back on claims by ousted CEO John Matze: 'Time to correct the record'
- Biden says he will push forward with $1.9 trillion COVID relief plan WITHOUT Republican support and warns of the 'cost of inaction'
- Read Apple CEO Tim Cook’s letter thanking Joe Biden
- Trump’s Labor Board Chairman Isn’t Budging To Democrats’ Demands For Recusal
- Outrage as president Macron says Brexit is the product of 'lies and false promises' in annual address delivered hours after his own father denounced him as a 'self-serving' politician
- Headteachers say pupils must NOT be forced to sit 'mini-exams' this summer and teachers should award grades based on combination of coursework, mock exams and teacher assessments
- Almost ALL adults could be vaccinated by May - not just the over-50s - leaked letter to No 10 reveals, as Boris faces Tory demands to end lockdown by Spring despite Prof Lockdown's model warning of 130,000 more deaths
- AstraZeneca boss says Britain is 'comfortably' on target to vaccinate ALL over-50s by March - as he slams 'emotional' EU over jabs war that saw Eurocrats accuse UK of HIJACKING doses meant for the continent
- No10 says local health bosses are to blame for not all care homes being offered Covid jabs - as Matt Hancock gets set to celebrate jab milestone in 5pm press conference
- Coronavirus Live Updates: 153 People Affected With UK Strain In India, Says Health Ministry
- Coronavirus live updates: Oakland airport debuts vending machines selling test kits
- Democrats pledge to push Biden's $1.9 trillion COVID-19 rescue plan through Congress without Republican support despite president's bid for unity
- Hedge funders have lost $19 BILLION in war with Reddit investors who have pushed GameStop shares up 1,800% this month - as one investor who got burned says he won't short sell again
- Facebook's oversight board asks for public comment on Trump case
- Byron Allen & Charter Communications Settle $10B Racial Discrimination Lawsuit – Update
- How Lindsay Graham’s Petty Partisan Decision Stalled the DOJ
- Parler CEO John Matze FIRED as ‘free-speech’ social media app’s board ousts boss who says he met ‘constant resistance’
UPDATE 1-Boeing CEO says 'fully supportive' of board's decision to split jobs -letter have 787 words, post on feeds.reuters.com at October 16, 2019. This is cached page on Movie Breaking News. If you want remove this page, please contact us.