Boeing CEO Dennis Muilenburg is stepping down "immediately," the company announced on Monday.
This shift in leadership, the company said, is a "necessary" move as part of their efforts to regain customer confidence following two crashes of the Max 737 aircraft.
"I strongly believe in the future of Boeing and the 737 Max," David L. Calhoun, a current chairperson whose CEO duties will begin Jan. 13, said in a press release on Monday. "I am honored to lead this great company and the 150,000 dedicated employees who are working hard to create the future of aviation."
Greg Smith, Boeing's current CFO, will serve as interim CEO while Calhoun finishes up commitments of the non-Boeing variety.
With this change, Boeing is hoping to prove its "renewed commitment to full transparency." In a separate statement, board member Lawrence W. Kellner—who will now become a non-exec chairman of the board—said he and the team are aware of the challenges facing the company.
"The Board and I look forward to working with [Calhoun] and the rest of the Boeing team to ensure that today marks a new way forward for our company," Kellner said.
Production on the Max aircraft will be halted starting in January. The two Max crashes killed a total of 346 passengers. Previously asked about the possibility of resigning in a CBS interview earlier this year, Muilenberg said it was "important" that he continue to "lead the company" through the fallout.