Boeing CEO Dennis Muilenburg resigned effective immediately, the company announced Monday morning. Muilenburg, who up until a few months ago was also chairman of the company, is leaving Boeing’s board as well.
David Calhoun, Boeing’s current chairman, is taking over as its CEO. Calhoun is currently the head of private equity operations at money management giant Blackstone, and a former General Electric executive. He is also the lead director of the board of construction equipment manufacturer Caterpillar.
Boeing’s stock rose on the news, opening 3.6% higher Monday morning.
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