Dennis Muilenburg has stepped down from his position as chief executive and board director after the company’s directors decided it was "necessary to restore confidence" in the company. 

This comes after two fatal crashes in five months which killed 346 people and saw the model grounded.

David Calhoun will be the new chief executive and president from 13 January and Lawrence Kellner will become the non-executive chairman of the board immediately. 

Chief financial officer Greg Smith will serve as interim chief executive during the transition period. 

Boeing said under its new leadership, there will be a renewed commitment to "full transparency, including effective and proactive communication with the FAA, other global regulators and its customers".

Kellner said: "Dave has deep industry experience and a proven track record of strong leadership, and he recognises the challenges we must confront.

"The board and I look forward to working with him and the rest of the Boeing team to ensure that today marks a new way forward for our company."

Calhoun added: "I strongly believe in the future of Boeing and the 737 MAX. I am honoured to lead this great company and the 150,000 dedicated employees who are working hard to create the future of aviation."