Boeing CEO Muilenburg steps down amid growing 737 MAX crisis

Boeing's Chief Executive Officer Dennis Muilenburg has resigned from his position and the current Chairman David Calhoun was named by the Board of Directors as his successor, the U.S. aircraft manufacturer said on Monday.

The departure came as the aircraft giant struggles to regain the trust of regulators, customers and the public after two deadly crashes of its 737 MAX jetliner that killed 346 people aboard.

"The Board of Directors decided that a change in leadership was necessary to restore confidence in the Company moving forward as it works to repair relationships with regulators, customers, and all other stakeholders," the company said.

According to the company, Calhoun would be the new chief executive and president as of Jan. 13, 2020, and board member Lawrence Kellner will become non-executive Chairman of the Board effective immediately.