Boeing CEO steps down

CHICAGO (AP/CNN) - Boeing’s CEO is resigning as the crisis enveloping the manufacturer related to its marquee aircraft, the 737 Max aircraft, drags on.

The board of directors said Monday that Dennis Muilenburg will step down immediately.

The board's current chairman David Calhoun will become president and CEO on January 13. The board said a change in leadership was necessary to restore confidence in the company as it works to repair relationships with regulators and stakeholders.

The company has been under public scrutiny since two deadly crashes grounded all 737 Max airplanes in March.

The aircraft hasn't been cleared to fly since, costing Boeing billions of dollars.

Muilenburg became CEO in 2015. He also previously served as chairman but gave up that seat in October.