Boeing boss says he will salvage the company’s battered reputation
Boeing chief executive Dennis Muilenburg promised to win back the public’s trust at the company’s annual meeting tonight, following two fatal 737 Max crashes.
Muilenburg faced a grilling from investors over the twin disasters and also saw off a shareholder motion to split his chairman and chief executive roles.
The company has been plunged into crisis by the two crashes which killed 346 people.
Muilenburg told reporters he would continue to lead the company despite the lawsuits, investigations, financial concerns and reputational damage that have followed the crashes.
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“I am very focused on safety going forward,” he said after the meeting when reporters asked if he had considered resigning. “I am strongly vested in that. My clear intent is to continue to lead on the front of safety, quality and integrity.”
Muilenburg said the company would have to strive to regain the confidence of the public.
“We know we do have work to do to earn and re-earn that trust and we will,” he said.
The firm is under considerable pressure to deliver a software fix and new pilot training to address the issue which could have caused the crashes – faulty sensors on its anti-stall system. The US aviation regulator, the Federal Aviation Administration, could clear the plane to fly as soon as late next month, but Boeing has yet to formally submit the new software and training for review.
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Some pilots have warned, however, that draft proposals to update training procedures do not go far enough to address their concerns.
Last week, Boeing revealed the extent of the financial damage from grounding its flagship plane model across the globe as at least $1bn (£770m) so far. The plane maker said in its first-quarter results that it had suspended its 2019 forecasts as it scrambles to get the 737 Max model back in the air.
The company added changes to the production process of the model would cost another $1bn in the coming years. The fallout of the second deadly crash saw Boeing cut production of the jets to 42 aircraft per month, down from 52.