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Boeing CEO Dennis Muilenburg resigns effective immediately, replaced by board chairman

CHICAGO, ILLINOIS - APRIL 29: Boeing Chief Executive Dennis Muilenburg speaks during a press conference after the annual shareholders meeting at the Field Museum on April 29, 2019 in Chicago, Illinois. Boeing announced earnings fell 21 percent in the first quarter after multiple crashes of the company's bestselling plane the 737 Max. (Photo by Jim Young-Pool/Getty Images)

CHICAGO — Boeing CEO Dennis Muilenburg has stepped down after a tumultuous year, in which the 737 MAX airplane and Starliner spacecraft encountered numerous issues and delays.

Chairman David Calhoun will take over as CEO, effective January 13, 2020.

“On behalf of the entire Board of Directors, I am pleased that Dave has agreed to lead Boeing at this critical juncture,” Board member Lawrence Kellner stated in a news release. “Dave has deep industry experience and a proven track record of strong leadership, and he recognizes the challenges we must confront. The Board and I look forward to working with him and the rest of the Boeing team to ensure that today marks a new way forward for our company.”

Boeing Chief Financial Officer Greg Smith will serve as interim CEO during the transition period.

Calhoun states in Boeing’s release that he believes in the both the company’s future and that of the 737 MAX.

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