Boeing’s embattled CEO is fired by board of directors

The company has had its recent struggles: nearly 400 new jets are sitting on the ground, its 737 Max assembly line is about to be shut down and Boeing’s new spacecraft failed to reach orbit.
1:46 | 12/24/19

Coming up in the next {{countdown}} {{countdownlbl}}

Coming up next:

{{nextVideo.title}}

{{nextVideo.description}}

Skip to this video now

Now Playing:

{{currentVideo.title}}

Comments
Related Extras
Related Videos
Video Transcript
Transcript for Boeing’s embattled CEO is fired by board of directors
Now, to the giant shakeup at Boeing. The board firing its chief executive following the fallout after the two 727 max jet crashes that killed 346 people. And we're learning the fired CEO is in line to get a multimillion dollar payout. Here's ABC's senior transportation correspondent David Kerley. Reporter: With nearly 400 brand new jets sitting on the ground, the 737 max assembly line about to shut down and the weekend failure of Boeing's new spacecraft to reach orbit, Boeing's embattled CEO, a 35-year company veteran, Dennis Muilenburg, is out, fired by the board of directors, despite his intention to stay. These two accidents happened on my watch. I feel responsible to see this through. Reporter: Those two accidents, in Indonesia and Ethiopia, linked to a new system on the 737 max, which Boeing said could be handled by a well-trained crew. Boeing developed software fixes, and announced it would start delivers jets again this month. That angered the FAA. The new head of the regulator saying certification would not happen this year and telling his workers they shouldn't feel pressured. I want you to take the time you need and focus solely on safety. I've got your back. Reporter: Boeing tapped its chairman, David Calhoun, as the next CEO, who has already talked to the head of the FAA and the airlines. There are reports tonight of additional embarrassing messages between Boeing employees about the system that apparently contributed to these two accidents being handed over to congressional investigators. Meanwhile, we've learned that the fired CEO has the potential for nearly $40 million severance Tom? $40 million. All right, David, thank you for that.

This transcript has been automatically generated and may not be 100% accurate.

{"duration":"1:46","description":"The company has had its recent struggles: nearly 400 new jets are sitting on the ground, its 737 Max assembly line is about to be shut down and Boeing’s new spacecraft failed to reach orbit. ","mediaType":"default","section":"ABCNews/WNT","id":"67902438","title":"Boeing’s embattled CEO is fired by board of directors","url":"/WNT/video/boeings-embattled-ceo-fired-board-directors-67902438"}