Boeing's CEO Dennis Muilenburg is out as the company continues to battle the fallout of the 737 Max crisis

Jim Young-Pool/Getty ImagesBoeing CEO Dennis Muilenburg after Boeing's annual shareholders meeting in Chicago in April 2019.

• Boeing CEO Dennis Muilenburg will leave his position in January 2020, the company announced Monday as it continues to battle the fallout from the737 Max crisis.
• Muilenburg will be replaced by David L. Calhoun, Boeing's current chairman, on January 13 next year, the company said in a statement.
• The aviation giant has this year been gripped by a huge crisis over its handling of two crashes involving the 737 Max plane. The two crashes, in October 2018 and March 2019, killed a total of 346 people.
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Boeing CEO Dennis Muilenburg will leave his position in January 2020, the company announced Monday as it continues to battle the fallout from the 737 Max crisis.

Muilenburg will be replaced by David L. Calhoun, Boeing's current chairman, on January 13 next year, the company said in a statement.

The New York Times reported that Muilenburg had been fired by Boeing, although the company's formal announcement of his departure said he had "resigned from his positions as Chief Executive Officer and Board director effective immediately."

The aviation giant has this year been gripped by a huge crisis over its handling of two crashes involving the 737 Max plane. The two crashes, in October 2018 and March 2019, killed a total of 346 people.

"Dave has deep industry experience and a proven track record of strong leadership, and he recognizes the challenges we must confront," a statement from Boeing said.

The statement did not explicitly mention the 737 Max crisis beyond Calhoun saying he believes in "the future of Boeing and the 737 Max."

"I am honored to lead this great company and the 150,000 dedicated employees who are working hard to create the future of aviation."

Boeing's shares had been halted Monday morning ahead of the news.

This is a developing story. Check back for updates.

Get the latest Boeing stock price here.

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