(Reuters) - Boeing will pay $200 Million to settle charges from the U.S. Securities and Exchange Commission that it misled investors about the 737 MAX that was grounded for 20 months after two fatal crashes killed 346 people.
The SEC also said former Boeing Chief Executive Dennis Muilenburg had agreed to pay $1 million.
"In times of crisis and tragedy, it is especially important that public companies and executives provide full, fair, and truthful disclosures to the markets. The Boeing Company and its former CEO, Dennis Muilenburg, failed in this most basic obligation," SEC Chair Gary Gensler said.
(Reporting by David Shepardson, Editing by Franklin Paul)
Dennis A. Muilenburg is a businessperson who has been at the helm of 8 different companies. Mr. Muilenburg holds the position of Chairman for The Kennedy Center Corporate Fund and Chairman & Chief Executive Officer for New Vista Acquisition Corp. He is also Member of National Academy of Engineering and on the board of 7 other companies. In his past career he held the position of President, Chief Executive Officer & Director at The Boeing Co. President & Chief Executive Officer of Boeing Defense, Space & Security, Chairman, President and Chief Executive Officer at Boeing HorizonX Ventures, President at Boeing Ventures, President for The Boeing Co. (Illinois) and Executive Vice President at Boeing Capital Corp. (which are all subsidiaries of The Boeing Co.). Mr. Muilenburg received an undergraduate degree from Iowa State University and a graduate degree from the University of Washington.
View full profile| Linked companies | |
|---|---|
The Kennedy Center Corporate Fund
 The Kennedy Center Corporate Fund Investment Trusts/Mutual FundsMiscellaneous Kennedy Center Corporate Fund operates as a nationwide partnership of distinguished business leaders who help to mobilize corporate partners and secure critical funding. The company was founded by Harold Burson in 1977 and is headquartered in Washington, DC. | Chairman |
| NEW VISTA ACQUISITION CORP | Chief Executive Officer |
