Boeing board to meet in Texas ahead of earnings report
Boeing's board of directors and head executives were slated to meet in San Antonio, Texas, on Sunday and Monday ahead of the company's earnings report, according to Reuters.
The earnings report is due out Oct. 23.
The meeting comes after a report that Boeing may have been hiding issues with the 737 Max for years.
Internal messages from 2016 between Boeing employees suggest the aircraft maker may have misled the Federal Aviation Administration about a Boeing 737 Max safety system, Reuters reported, citing sources briefed on the matter.
FILE - In this April 26, 2019, file photo a worker walks past a Boeing 737 MAX 8 airplane being built for Oman Air at Boeing's assembly facility in Renton, Wash. (AP Photo/Ted S. Warren, File)
The 737 Max, Boeing's best-selling model in its history, was grounded in March after two crashes killed more than 300 people. Regulators demanded the planemaker devise a patch to prevent the software from acting on erroneous data and attempting to lower a plane's angle of attack during takeoff.
| Ticker | Security | Last | Change | Change % |
|---|---|---|---|---|
| BA | THE BOEING CO. | 144.15 | -1.93 | -1.32% |
CEO Dennis Muilenburg recently lost his title as chairman of the board. David Calhoun, current independent lead director, was named non-executive chairman.
Muilenburg will testify on Capitol Hill at the end of October, marking his first appearance before lawmakers since the crashes.
The company is headquarted in Chicago.
FOX Business' inquiry to Boeing was not returned at the time of publication.
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FOX Business' Jonathan Garber contributed to this report.