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Boeing shares got halted in the last hour as the company announced major leadership changes.

Dennis A. Muilenburg has resigned from his positions as Chief Executive Officer (CEO) and got replaces by David Calhoun. Moreover, Lawrence W. Kellner became the new Chairman of the Board.

“Board of directors decided that a change in leadership was necessary to restore confidence in company moving forward,” Boeing said in a statement.

Following the announcement, Boeing shares resumed trading and were up more than 1.5% in premarket trading.