Weeks after taking the board chairmanship away from Dennis A. Muilenburg, board directors finished the job by firing the CEO.
During Senate hearings surrounding two Boeing crashes, Muilenberg put the onus of his compensation on the Boeing board of directors, As a result he is out as CEO of the embattled company. He also lost his seat on the board.
The writing was on the wall for Muilenburg in October, says Charles Elson, director of the John L. Weinberg Center for Corporate Governance at the University of Delaware.
"It was inevitable," Elson says. "Once (Muilenburg) lost the chairmanship, the rest was put into process. There was obviously a lack of confidence."
Requests for comment from Boeing went unanswered.
In October, lead director David L. Calhoun...