Get 40% Off
⚠ Earnings Alert! Which stocks are poised to surge?
See the stocks on our ProPicks radar. These strategies gained 19.7% year-to-date.
Unlock full list

Boeing 737 MAX crisis adviser Michael Luttig to retire

Published 12/26/2019, 04:56 PM
Updated 12/26/2019, 04:56 PM
© Reuters. An aerial photo shows Boeing 737 MAX airplanes parked on the tarmac at the Boeing Factory in Renton

(Reuters) - Boeing Co (N:BA) said on Thursday Michael Luttig, who was appointed senior adviser to the planemaker's board amid the 737 MAX crisis in May, will retire at the end of the year.

The company had named Luttig, who has served as general counsel since joining the company in 2006, to the position of counselor and senior adviser to former Chief Executive Officer Dennis Muilenburg and to Boeing's board. (https://reut.rs/3778A6U)

Luttig, often listed among the highest paid general counsels of publicly traded companies, helped anchor Boeing's legal defense over the crashes of Lion Air Flight 610 and Ethiopian Airlines Flight 302.

The 737 MAX has been grounded since March after two crashes in Indonesia and Ethiopia killed 346 people within a span of five months.

Luttig's announcement to retire follows Muilenburg's dismissal as chief executive officer this week, after repeatedly failing to contain the fallout from the crashes that halted output of its best-selling jetliner.

© Reuters. An aerial photo shows Boeing 737 MAX airplanes parked on the tarmac at the Boeing Factory in Renton

Chairman David Calhoun, a former General Electric (NYSE:GE) executive who has been on Boeing's board since 2009, replaced Muilenburg as the chief executive officer effective Jan. 13.

Latest comments

Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.