Boeing CEO resigns amid 737 Max crisis

[mystery-ak]

Boeing CEO resigns amid 737 Max crisis
by Spencer Neale
 | December 23, 2019 09:16 AM

Dennis Muilenburg, the CEO of Boeing, resigned Monday morning after a string of malfunctions in Boeing's 737 Max airliner led to the worst year on record for the plane-maker.

Boeing has struggled to rectify issues related to its 737 Max, which President Trump grounded in March after two crashes took the lives of more than 300 people. The House Transportation Committee recently revealed a 2015 document that showed Boeing engineers worrying about the safety of the anti-stall mechanism in the 737 Max planes.

A default in the anti-stalling mechanism caused the plane's computer to cause the planes to nose-dive at high speeds. In early 2019, 189 people died on a Lion Air flight in Indonesia, and another 157 people were killed on an Ethiopian Airlines flight. Both were 737 Max planes, and the anti-stalling mechanism was later found to be at fault for the wreckage.

more
https://www.washingtonexaminer.com/news/boeing-ceo-resigns-amid-737-max-crisis

[Fishrrman]

Took him long enough.
I'm surprised it didn't happen sooner.

[roamer_1]

Daddy won't you take me back to Mullenberg County
Down by the Green River where Paradise lay
Well I'm sorry my son but you're too late in askin
Mr Peabody's coal train has hauled it away...

==============================

Sorry... Word association spurred a nostalgic song...
Carry on.

[roamer_1]

Dang it... Now it's stuck in my head.

[truth_seeker]

Try Silicon Valley inventor, Elon Musk.

He has a better flying safety record.

Does electric cars, and drilling bore equipment on the side.

The old big institutions, are often loosing competence,  sometimes by way of politiics.

Example: Public health. Building choo choos.

[mountaineer]

Boeing’s CEO Has Made Millions. His Total Payout Could Be Worth More Than a 737 MAX Jet.
By Al Root
Dec. 23, 2019 4:34 pm ET

The constant drip of bad news regarding the company’s handling of the 737 MAX grounding led to the board’s decision. Muilenburg, however, will be walking away with millions in compensation. It’s a “golden parachute” to soften the blow for the executive who joined the commercial aerospace giant in his early 20s.

Muilenburg was CEO of Boeing (ticker: BA) for about 4.4 years. During his time at the helm of the company, Muilenburg earned more than $70 million in compensation, according to the company’s proxy statements between 2015 to 2018.

What's more, upon termination Muilenburg can walk away with another $30 to $40 million. And his supplementary executive pension is worth another $11 million, according to these statements.  ... Barron's