Ex-CEO Muilenburg agrees to pay $1 millionThe SEC also said former Boeing Chief Executive Dennis Muilenburg had agreed to pay $1 million to settle charges. The SEC charged Boeing and Muilenburg "with making materially misleading public statements following crashes of Boeing airplanes in 2018 and 2019." Boeing faces a December deadline to win approval from the FAA of the 737 MAX 7 and 10 variants, or it must meet new modern cockpit-alerting requirements. In January 2021, Boeing agreed to pay $2.5 billion in fines and compensation to resolve a U.S. Justice Department criminal investigation into the 737 MAX crashes. Muilenburg firedIn December 2019, Boeing fired Muilenburg after the company clashed with regulators over the timing of the 737 MAX's return to service.

Source: Ethiopian News September 23, 2022 01:50 UTC