Boeing CEO to face shareholders for first time since 737Max crashes
CHICAGO - Boeing Co chief executive Dennis Muilenburg will face shareholders on Monday for the first time since two fatal crashes that led to the 737 Max's grounding worldwide and triggered investigations, lawsuits and a sharp loss in share value.
That crash, which killed all 157 on board when it plunged to the ground shortly after takeoff, came five months after a similar Lion Air nose-dive that killed all 189 passengers and crew. The US Federal Aviation Administration could clear Boeing the 737 Max jet to fly in late May or the first part of June, two people familiar with the matter said on Friday, though Boeing has yet to submit the updated software and training for review.
Last week Boeing abandoned its 2019 financial outlook, halted share buybacks and said lowered production due to the 737 Max grounding had cost it at least US$1 billion so far. Mr Muilenburg is Boeing's chairman and president in addition to CEO, and faces calls that could strip him of one of those titles at Monday's meeting. Boeing has recommended against the move.
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