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Boeing is hosting its shareholder annual meeting at its corporate headquarters in Chicago. Shareholders will likely be eager to hear more about the impact of the 737 Max groundings on the planemaker’s future business after the jet’s anti-stall software was implicated in the crashes in Indonesia and Ethiopia.
Two leading shareholder advisory firms have proposed voting against reinstating CEO Dennis Muilenburg as executive chairman in the crash aftermath. Muilenburg defended that title on the earnings call last week.
The meeting also follows reports that Boeing failed to tell Southwest Airlines and the Federal Aviation Administration that the safety feature that warns pilots about malfunctioning sensors had been deactivated on the Max jets. Southwest did not know about the deactivation until after the Lion Air flight crash in Indonesia, and said that Boeing indicated in its manual that the disagree lights were functional, according to the Wall Street Journal.
The jets have been grounded since mid-March.