In addition to his over-a-million-dollar pay, Boeing CEO Dave Calhoun received a sizable stock bonus last year despite leading a business beset by ongoing losses and safety issues.
Calhoun received $32.8 million in total salary in 2023, a 45% increase over the $22.6 million he received in 2022. It also could be much more: The board said he requested to forego his $2,800,000 annual incentive bonus after a portion of a Boeing 737 Max aircraft broke off the side of an Alaska Airlines flight in January. This led to numerous federal investigations, a temporary grounding of the aircraft, the firing of executives, and yet another embarrassing PR blunder for the company.
Yet, Boeing’s standing for safety and quality may have fallen to an all-time low following the door plug blowout on January 5 that left a massive hole in the side of the aircraft. The National Transportation Safety Board’s preliminary inquiry revealed that the aircraft had left a Boeing factory two months before the event without the four bolts required to secure the door stopper. In January, Calhoun informed investors, “We understand that we caused the problem.” Regardless of the findings, Boeing has responsibility for the events.
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