The stakes for Boeing, and its CEO, are huge
Dennis Muilenburg has earned a reputation as a high-energy CEO, bicycling 140 miles a week, sometimes taking groups of employees along for high-speed bonding sessions. The 55-year-old may need every ounce of energy he’s got as he faces one of the worst crises for Boeing in over 50 years: two crashes that killed 346 people, linked to the automated flight controls of the 737 MAX and leading to the grounding of the company’s bestselling plane.
“I give them a B,” says Jeffrey Sonnenfeld, a professor of leadership at the Yale School of Management. Muilenburg needs to put a human face on Boeing, he says, and get out in public and engage with the media to try to correct misperceptions and address the many questions about what went wrong, even if he doesn’t have ready answers to offer.
Whether Muilenburg’s job is threatened or not may depend on the stock price, says Richard Aboulafia, an aerospace analyst with Teal Group. Like his two predecessors, Muilenberg has continued to sweeten the pot for investors, devoting roughly 95% of operating cash flow to the company’s steadily rising dividend and share buybacks.
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