Dennis Muilenburg resigns as CEO of Boeing Co. amid controversy.

Following months-long fallout for the world’s largest aerospace company, Dennis Muilenburg is stepping down as chief executive officer of Boeing.

Chairman David Calhoun will take over his position, effective January 13, 2020. In the meanwhile, Boeing Chief Financial Officer Greg Smith will serve as interim CEO.

The company is still trying to regain its footing after two fatal 737 Max crashes that killed 346 people and prompted a global grounding of the 737 Max aircraft, the Washington Post reports, despite the attempts of Muilenburg to take responsibility for some of the darkest chapters of Boeing’s history, he was unable to regain trust from the public and regulators as the 737 Max’s problems multiplied and the fix that had originally been planned for April of 2019 remained elusive. In October of this year, Muilenburg was stripped of his role as chairman of Boeing’s board, in a move that the board argued would allow Muilenburg to focus solely on bringing the Max back online.

Boeing has also struggled with the financial toll wrought by the downfall of its once-famed commercial jetliner. CNN Business reports that the company has also been roundly criticized by federal oversight officials over billion-dollar cost overruns and missed deadlines with another NASA contract: to build the Space Launch System, a massive rocket that the space agency wants to use to return humans to the moon.

“A change in leadership was necessary to restore confidence in the company moving forward as it works to repair relationships with regulators, customers, and all other stakeholders,” the company said, according to CNN Business.

“Under the Company’s new leadership, Boeing will operate with a renewed commitment to full transparency, including effective and proactive communication with the FAA, other global regulators and its customers,” the company said in a statement.

What does the future hold for Boeing?

According to a Simple Flying article by Jay Singh, incoming CEO David Calhoun, who has served on Boeing’s board since 2009 and was chairman and CEO of Nielsen Holdings, will have much on his plate. While the 737 MAX will likely take up a bulk of his first few months on the job, Boeing still has to make some headway. First, Boeing will have to manage 777X delays. Then, Boeing will also have to make a decision on the NMA or new midsize airplane.