Boeing fired its CEO Dennis Muilenburg as the world’s largest aerospace company and leading commercial jetliner manufacturer continues to struggle to restore consumer and regulator’s confidence due to the ongoing 737 Max crisis.

The 737 Max is one of Boeing’s popular planes but it was involved in two deadly crashes that led to its grounding.

The company is currently in the process of obtaining regulatory approvals to safely returning the 737 Max to service. The company still needs to fulfill all the requirements and answer all questions by regulators get certification for the airplane airplane to return to service.

In June, the Federal Aviation Administration (FAA) said it will only lift its grounding order once it determines that the 737 Max is safe.

In a statement on Monday, Boeing said Muilenburg will vacate his positions as CEO and Board Director effective immediately. The company’s Chief Financial Officer Greg Smith will serve as interim CEO during a brief transition period.

Boeing’s current Chairman David Calhoun will serve as its CEO and President effective January 13, 2020.  He will remain member of the company’s Board. The brief transition period will allow Mr. Calhoun to exit his non-Boeing commitments.

The company also said its Board member Lawrence Kellner will become non-executive Chairman of the Board effective immediately.

A leadership changes was necessary

Boeing’s Board of Directors believed that a leadership change was “necessary to restore confidence in the company moving forward as it works to repair relationships with regulators, customers, and all other stakeholders.”

Under its new leadership, the company “will operate with a renewed commitment to full transparency.” It will implement an effective and proactive communication with the FAA, other regulators worldwide and its customers.

Mr. Kellner said, "On behalf of the entire Board of Directors, I am pleased that Dave has agreed to lead Boeing at this critical juncture. Dave has deep industry experience and a proven track record of strong leadership, and he recognizes the challenges we must confront.”

“The Board and I look forward to working with him and the rest of the Boeing team to ensure that today marks a new way forward for our company,” he added.

On the other hand, Mr. Calhoun said, "I strongly believe in the future of Boeing and the 737 MAX. I am honored to lead this great company and the 150,000 dedicated employees who are working hard to create the future of aviation."