Boeing (NYSE:BA) news for Monday concerning the resignation of its CEO has BA stock up.
A Boeing news release reveals that Dennis Muilenburg is leaving behind his positions at Boeing. That includes serving as its CEO and his position on the company’s Board of Directors. Muilenburg’s departure comes at the behest of the Board.
The Boeing CEO resigning is an immediate action. With his departure, CFO Greg Smith will be serving as an interim CEO for the company. Smith won’t stay in that role long as David Calhoun will be taking over as the next CEO of the company.
Calhoun already serves as the Chairman of the Board for BA. This new change will also have him serving as President and CEO. He will first be concluding business outside of Boeing before heading up the company. This will have him taking over on Jan. 13, 2020.
Lawrence Kellner, the new non-executive Chairman of the Board, says this about the Boeing news.
“On behalf of the entire Board of Directors, I am pleased that Dave has agreed to lead Boeing at this critical juncture. 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.”
BA stock was up 2.60% as of Monday afternoon.
As of this writing, William White did not hold a position in any of the aforementioned securities.
