New Boeing CEO's Controversial Bonus Structure | One Mile at a Time
Dennis Muilenburg, Boeing’s recently fired CEO, will be getting $62 million upon his departure from Boeing, made up of long-term incentives, stock awards, and pension benefits. The company states that this is what he is contractually entitled to, and that he’s not receiving any sort of severance package or bonus pay for 2019.
The news of this came the same day that it was revealed that Spirit AeroSystems would be laying off 2,800 people. This company is a supplier for the Boeing 737 MAX, and production for the plane being suspended has caused them to lay off more than 20% of their workforce.
“This payment represents a clear financial incentive for Mr. Calhoun to pressure regulators into ungrounding the 737 MAX, as well as rush the investigations and reforms needed to guarantee public safety. We believe that this bonus would be unconscionable in the face of two tragic plane crashes and proof that Boeing has not learned its lesson.”