Boeing's CEO is resigning as the crisis enveloping the manufacturer related to its marquee aircraft, the Max 737 aircraft, drags on.

The board of directors said Monday that Dennis Muilenburg will step down immediately.

The board's current chairman David Calhoun will become president and CEO on January 13.

The board said a change in leadership was necessary to restore confidence in the company as it works to repair relationships with regulators and stakeholders.

Enter your number to get our free mobile app