Dennis Muilenburg fired from Boeing - What it means for the company

Boeing fired Dennis Muilenburg as CEO amid the company's handling of the fallout from 737 Max crisis. Watch four experts weigh in on what this means for the company.

Boeing ousted CEO Dennis Muilenburg, saying Monday it replaced him with the company’s chairman as the nation’s biggest manufacturing exporter struggles to regain the trust of regulators, customers and the public in the wake of two fatal crashes of its bestselling plane, the 737 Max.

Muilenberg stepped down immediately, and Chairman David Calhoun, 62, will become CEO on Jan. 13.

Boeing declined to comment on Muilenburg’s severance, but a filing earlier this year showed he could be eligible for around $39 million.

The shakeup comes as Boeing has flailed in its attempts to contain one of the biggest crises in its more than 100-year history, disrupting relationships with the very airline customers that fueled Boeing’s sales boom in recent years to the pilots who have complained about broken trust. Airlines have lost millions of dollars in revenue and have curbed their growth without access to the fuel efficient planes, which regulators grounded in mid-March.

Earlier this month, the Federal Aviation Administration took the rare step of publicly admonishing Boeing for pushing an unrealistic timeline for the planes’ return to service and for appearing to pressure the regulator. The two crashes — in Indonesia in October 2018 and in Ethiopia last March — claimed 346 lives. A flight-control program has been implicated in both crashes, and regulators haven’t yet signed off on software changes for the planes, forcing airlines to rejigger their schedules well into 2020.

For access to live and exclusive video from CNBC subscribe to CNBC PRO:

» Subscribe to CNBC TV:
» Subscribe to CNBC:
» Subscribe to CNBC Classic:

Turn to CNBC TV for the latest stock market news and analysis. From market futures to live price updates CNBC is the leader in business news worldwide.

Connect with CNBC News Online
Get the latest news:
Follow CNBC on LinkedIn:
Follow CNBC News on Facebook:
Follow CNBC News on Twitter:
Follow CNBC News on Instagram:

#CNBC
#CNBC TV

Bottom Line,CNBC,business news,finance stock,stock market,news channel,news station,breaking news,us news,world news,cable,cable news,finance news,money,money tips,Boeing stock price,boeing 737 groundings,boeing max 8 crash,boeing 737 max,Boeing M737 AX 8,boeing hearings,boeing news,boeing halt slowdown,airplane production suspend,january halt boeing,boeing ceo Dennis Muilenburg steps down,boeing David Calhoun,