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Boeing Removes CEO Dennis Muilenburg's Chairman Role Amid 737 Max Crisis

Boeing's (BA) board removed its Chief Executive Officer Dennis Muilenburg as chairman, saying the change would enable Muilenburg to focus on returning the company's best-selling 737 MAX aircraft to service.

The company's board elected independent lead director David Calhoun to serve as non-executive chairman.

The company said its board also plans to appoint a new director in the near term with deep safety experience and expertise to serve on the board and its newly established Aerospace Safety Committee.

Calhoun said, "The board has full confidence in Dennis as CEO and believes this division of labor will enable maximum focus on running the business with the board playing an active oversight role."

"I am fully supportive of the board's action. Our entire team is laser-focused on returning the 737 MAX safely to service and delivering on the full breadth of our company's commitments," said Muilenburg.

All Boeing 737 MAX aircrafts were grounded by the Federal Aviation Administration from March 13 following crashes in Ethiopia and Indonesia killing 346 people.

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