Following the 737 Max crisis, Boeing has stated that it’s CEO Dennis Muilenburg is replaced effective immediately with the company’s chairman David Calhoun.
The company has been struggling with its reputation ever since the two fatal crashes of its bestselling plane the 737 Max.
This crisis the company faces is its biggest in its 100-year history. Which has derailed its relationships from airlines to their pilots who have complained about broken trust.
Following the crashes, not just Boeing but the many airlines which have operated with the 737 Max have lost millions of dollars in revenue because of the lack of access to fuel-efficient planes which regulators have grounded in mid-March.
The two crashes one in Indonesia in October 2018 and one in Ethiopia last March claimed a total of 346 lives.
Boeing shares gained nearly 3% after the company announced changes to its corporate structure however it is still down 20% since the second crash in March.