Boeing’s ousted CEO departs with $62 million in benefits
4 years, 11 months ago

Boeing’s ousted CEO departs with $62 million in benefits

Hindustan Times  

The Boeing CEO who was ousted last month for the company’s botched response to two crashes and the grounding of its best-selling plane will walk away with $62.2 million, the company disclosed Friday. Former Boeing CEO Dennis Muilenburg was fired in late December after failing to get the company’s 737 Max jetliner back in the air. Boeing said, however, that Dennis Muilenburg will not get additional severance or a 2019 bonus, and will forfeit stock awards worth $14.6 million. Muilenburg, who spent more than 30 years at Boeing, also has unexercised stock options that he has held since 2013 and that are worth more than $18.5 million at Friday’s closing price.

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History of this topic

Boeing's Crisis: A Shrinking Giant Faces the Brink of Collapse
2 months, 3 weeks ago

Boeing's Crisis: A Shrinking Giant Faces the Brink of Collapse

Live Mint  

Boeing CEO Kelly Ortberg is implementing drastic measures to address the company's financial crisis, including shrinking the workforce, selling assets, and exploring bankruptcy options. Ortberg has spent recent weeks traveling the country, meeting with airlines, suppliers, and regulators to develop a plan to save the company.

Boeing names its next CEO while posting a quarterly loss of more than $1.4 billion
5 months, 1 week ago

Boeing names its next CEO while posting a quarterly loss of more than $1.4 billion

Associated Press  

Boeing named an aerospace industry veteran with a background in mechanical engineering as its next chief executive Wednesday, looking to open a new chapter at a company rocked by legal, regulatory and production problems and mounting financial repercussions. “There is much work to be done, and I’m looking forward to getting started,” Ortberg said in a statement issued by Boeing. …

Boeing names new CEO as it reports hefty loss
5 months, 1 week ago

Boeing names new CEO as it reports hefty loss

New Indian Express  

NEW YORK: Boeing named former Rockwell Collins chief Robert "Kelly" Ortberg its next CEO Wednesday, as the aviation giant reported a hefty loss on continued operational problems. Leadership shakeup Boeing has been in the hot seat since a January incident in which a 737 MAX operated by Alaska Airlines made an emergency landing after a fuselage panel blew out mid-flight. …

Boeing names its next CEO while posting a quarterly loss of more than $1.4 billion
5 months, 1 week ago

Boeing names its next CEO while posting a quarterly loss of more than $1.4 billion

LA Times  

The Boeing 777X airplane is shown at the Paris Air Show in Le Bourget, north of Paris, France, on June 19, 2023. The loss was wider and the company’s revenue lower than Wall Street’s dismal expectations, as both Boeing’s commercial airplanes business and defense unit lost money. The new CEO’s first task will be working with the FAA to help …

Boeing CEO brutally ripped over $32.8mn salary during Senate appearance: 'So it's working out great for you'
6 months, 3 weeks ago

Boeing CEO brutally ripped over $32.8mn salary during Senate appearance: 'So it's working out great for you'

Hindustan Times  

Boeing CEO David Calhoun was brutally ripped during his first appearance before the US Congress on Tuesday. Boeing President and CEO Dave Calhoun leaves after testifying during a Senate Homeland Security and Governmental Affairs Committee Investigations Subcommittee hearing to examine. Senators hold Calhoun responsible for January 737 MAX disaster The US Congressman highlighted the several investigations that are presently being …

Boeing CEO faces heat from Senate panel
6 months, 3 weeks ago

Boeing CEO faces heat from Senate panel

China Daily  

Boeing's CEO David Calhoun and chief engineer Howard McKenzie turn to face those who lost loved ones in fatal crashes as they testify before a Senate Homeland Security and Governmental Affairs Committee Investigations Subcommittee hearing on the safety culture at Boeing, on Capitol Hill in Washington, US, June 18, 2024. Before Calhoun arrived on Capitol Hill, the Senate panel released …

Boeing shareholders approve CEO’s compensation as company faces investigations, possible prosecution
7 months, 3 weeks ago

Boeing shareholders approve CEO’s compensation as company faces investigations, possible prosecution

Associated Press  

Boeing shareholders on Friday approved CEO David Calhoun’s $32.8 million compensation and heard leaders explain what the troubled aircraft maker is doing to improve the quality and safety of its planes after a door plug blew off a Boeing 737 Max jetliner in January. Shareholders approved an advisory measure on executive compensation by a 64%-36% margin — nearly all of …

Boeing's share price sinks 6% after CEO Dave Calhoun reveals successor is from inside the crisis-hit company
8 months, 2 weeks ago

Boeing's share price sinks 6% after CEO Dave Calhoun reveals successor is from inside the crisis-hit company

Daily Mail  

Boeing CEO Dave Calhoun assured investors on Wednesday that he has a successor lined up - and it is someone from inside the crisis-hit aviation giant. Boeing CEO Dave Calhoun speaks after meeting with lawmakers to answer questions about the latest problems with the 737 Max A panel blew out from the fuselage of a 737 Max 9 aircraft carrying …

Boeing CEO rejects $3 million bonus due to Alaska Airlines incident
9 months ago

Boeing CEO rejects $3 million bonus due to Alaska Airlines incident

Hindustan Times  

Following January's near-catastrophic incident involving a Boeing 737 Max 9 aircraft operated by Alaska Airlines, outgoing Boeing CEO David Calhoun declined to be considered for an yearly bonus, the US-based maker of airplanes, said in a securities filing on Friday. FILE - Boeing CEO David Calhoun speaks briefly with reporters after a meeting in the office of Sen. Mark Warner, …

Boeing's CEO got compensation worth nearly $33 million last year but lost a $3 million bonus
9 months ago

Boeing's CEO got compensation worth nearly $33 million last year but lost a $3 million bonus

The Independent  

For free real time breaking news alerts sent straight to your inbox sign up to our breaking news emails Sign up to our free breaking news emails Please enter a valid email address Please enter a valid email address SIGN UP I would like to be emailed about offers, events and updates from The Independent. Please try again later {{ …

Boeing’s CEO got compensation worth nearly $33 million last year but lost a $3 million bonus
9 months ago

Boeing’s CEO got compensation worth nearly $33 million last year but lost a $3 million bonus

Associated Press  

Boeing CEO David Calhoun received compensation valued at $33 million last year, nearly all of it in stock awards, but his stock payout for this year will be cut by nearly one-fourth because of the drop in Boeing’s share price since the January blowout of a panel on one of its planes in midflight. The company said Friday that after …

Embattled Boeing CEO could walk away with $24m compensation package after quitting amid safety scandals
9 months, 2 weeks ago

Embattled Boeing CEO could walk away with $24m compensation package after quitting amid safety scandals

The Independent  

Sign up to Simon Calder’s free travel email for expert advice and money-saving discounts Get Simon Calder’s Travel email Get Simon Calder’s Travel email SIGN UP I would like to be emailed about offers, events and updates from The Independent. Read our privacy policy Boeing CEO Dave Calhoun could walk away with a $24m compensation package after quitting following a …

Inside Boeing CEO Dave Calhoun's $24M exit package amid nightmare aircraft safety scandal
9 months, 2 weeks ago

Inside Boeing CEO Dave Calhoun's $24M exit package amid nightmare aircraft safety scandal

Daily Mail  

Boeing CEO Dave Calhoun is leaving the company at the end of the year - and will walk away with as much as $70 million. Boeing CEO Dave Calhoun finally said on Monday that he would stand down but not for another nine months A panel blew out from the fuselage of a 737 Max 9 aircraft carrying Alaska Airlines …

Boeing CEO and string of top executives resign amid ongoing safety scandals
9 months, 2 weeks ago

Boeing CEO and string of top executives resign amid ongoing safety scandals

The Independent  

Sign up to Simon Calder’s free travel email for expert advice and money-saving discounts Get Simon Calder’s Travel email Get Simon Calder’s Travel email SIGN UP I would like to be emailed about offers, events and updates from The Independent. Read our privacy policy Boeing CEO Dave Calhoun and two top executives have announced that they will step down from …

Boeing CEO Dave Calhoun to step down at 2024 end, here's why
9 months, 2 weeks ago

Boeing CEO Dave Calhoun to step down at 2024 end, here's why

Hindustan Times  

The upcoming Boeing management shakeup will witness many officials emptying their seats in 2024. FILE PHOTO: Boeing CEO Dave Calhoun speaks with reporters ahead of meeting with U.S. senators on Capitol Hill in Washington, U.S., January 24, 2024. REUTERS/Valerie Insinna/File Photo Boeing director Steve Mollenkopf will replace Kellner, whereas Boeing’s Chief Operating Officer Stephanie Pope will take over Deal's spot. …

Boeing CEO Dave Calhoun to step down in management shakeup amid safety crisis
9 months, 2 weeks ago

Boeing CEO Dave Calhoun to step down in management shakeup amid safety crisis

The Hindu  

Boeing CEO Dave Calhoun will step down by year-end, in a broad management shake-up brought on by the planemaker’s sprawling safety crisis stemming from a January mid-air panel blowout on a 737 MAX plane. Last week, a group of U.S. airline CEOs sought meetings with Boeing directors to express concern over the Alaska Airlines 737 MAX 9 accident, saying it …

Boeing CEO To Step Down At End Of The Year
9 months, 2 weeks ago

Boeing CEO To Step Down At End Of The Year

Huff Post  

FILE - Boeing CEO Dave Calhoun speaks with reporters after meeting Sen. Mark Warner, D-Va., at the Capitol in Washington, Jan. 24, 2024. CEO David Calhoun, who has been under unrelenting pressure since a panel blew off a Boeing 737 Max jetliner during a January flight, said he would retire at the end of the year. In a note to …

Boeing CEO's exit is part of broad leadership shake-up
9 months, 2 weeks ago

Boeing CEO's exit is part of broad leadership shake-up

Associated Press  

A leadership shake-up at Boeing, including news Monday that its top executive plans to step down, highlights the difficult path facing the iconic aircraft manufacturer as it tries to navigate through yet another safety crisis. CEO David Calhoun, who has been under unrelenting pressure since a panel blew off a Boeing 737 Max jetliner during a January flight, said he …

Boeing CEO Dave Calhoun announces he'll step down after Alaska Airlines door plug disaster and 737 MAX crises: Stocks jump as two other executives also quit
9 months, 2 weeks ago

Boeing CEO Dave Calhoun announces he'll step down after Alaska Airlines door plug disaster and 737 MAX crises: Stocks jump as two other executives also quit

Daily Mail  

Boeing CEO Dave Calhoun is to step down at the end of the year in a management overhaul in the wake of a safety crisis at the troubled aerospace giant. Boeing CEO Dave Calhoun is finally stepping down as head of the troubled airline maker A panel blew out from the fuselage of a 737 Max 9 aircraft carrying Alaska …

Boeing CEO to step down, board chairman will not run for reelection
9 months, 2 weeks ago

Boeing CEO to step down, board chairman will not run for reelection

NPR  

Boeing CEO to step down, board chairman will not run for reelection Boeing announced a series of staff shakeups following an in-flight door plug blowout on an Alaska Airlines 737 in January. Also, the chairman of the board, Larry Kellner, announced he will not seek reelection and the head of the Commercial Aviation Division, Stan Deal, is retiring from Boeing, …

Disney paid CEO Bob Iger nearly $32 million in 2023
11 months, 3 weeks ago

Disney paid CEO Bob Iger nearly $32 million in 2023

LA Times  

Disney Chief Executive Bob Iger and his ousted successor, Bob Chapek, both received multimillion-dollar payouts during the 2023 fiscal year, according to the company’s preliminary proxy statement submitted on Tuesday. Elsewhere in the proxy statement, both Iger and Disney’s board said they did not support the board nominations from Nelson Peltz’s Trian Fund Management and the activist hedge fund Blackwells. …

Boeing is REFUSING to pay out more cash to families of victims of its killer 737-MAX
1 year, 9 months ago

Boeing is REFUSING to pay out more cash to families of victims of its killer 737-MAX

Daily Mail  

Aircraft manufacturer Boeing has argued it should not have to pay more money to families of the people who died in a 2019 crash involving its 737-MAX jet, after insisting the victims died instantly and therefore did not suffer before they perished. The argument was aired by the company's attorneys last month in documents filed in Chicago federal court, days …

Boeing CEO loses $7M bonus, keeps $22.5 million compensation
1 year, 10 months ago

Boeing CEO loses $7M bonus, keeps $22.5 million compensation

Associated Press  

ARLINGTON, Va. — Boeing rewarded CEO David Calhoun with compensation valued at $22.5 million for 2022 but won’t pay him a $7 million bonus because the company will fail to get its new 777X jetliner in service by the end of this year. The company said directors decided last August that Calhoun’s $7 million bonus would not vest. Calhoun became …

Boeing will pay $200 million to settle SEC charges over 737 Max crashes
2 years, 3 months ago

Boeing will pay $200 million to settle SEC charges over 737 Max crashes

NPR  

Boeing will pay $200 million to settle SEC charges over 737 Max crashes Enlarge this image Justin Tallis/AFP via Getty Images Justin Tallis/AFP via Getty Images Boeing has agreed to pay a $200 million penalty to settle Securities and Exchange Commission charges that the company misled investors and the public about the safety of the 737 Max after two of …

Boeing extends CEO’s term, chief financial officer to leave
3 years, 8 months ago

Boeing extends CEO’s term, chief financial officer to leave

Associated Press  

Boeing’s board of directors raised the mandatory retirement age for CEO David Calhoun from 65 to 70 just days after he turned 64. The board’s vote of confidence for Calhoun comes as Boeing continues to struggle to recover from two crashes of its best-selling airliner and the coronavirus pandemic, which has undermined demand for new planes. Cowen aerospace analyst Cai …

Boeing can be ‘much better’, new CEO David Calhoun tells employees
4 years, 11 months ago

Boeing can be ‘much better’, new CEO David Calhoun tells employees

Hindustan Times  

Boeing Co’s new chief executive, David Calhoun, assumed the job on Monday as the US planemaker battles to recover from two fatal crashes of 737 MAX planes that killed 346 people in five months and led to the model’s worldwide grounding in March. A Boeing 737 Max aircraft taxis Calhoun, 62, a longtime Boeing director named chairman in October after …

Former Boeing CEO gets $62.2 million but loses some benefits
5 years ago

Former Boeing CEO gets $62.2 million but loses some benefits

Associated Press  

The Boeing CEO who was ousted last month for the company’s botched response to two crashes and the grounding of its best-selling plane will walk away with $62.2 million, the company disclosed Friday. Boeing said, however, that Dennis Muilenburg will not get additional severance or a 2019 bonus, and will forfeit stock awards worth $14.6 million. Muilenburg, who spent more …

Can anyone get Boeing through this mess? He’s going to try
5 years ago

Can anyone get Boeing through this mess? He’s going to try

CNN  

New York CNN Business — Dave Calhoun might have the toughest job in corporate America: Fixing Boeing. ‘An important task’ Still, despite the many challenges that await Calhoun, the position of Boeing CEO is apparently one he’s been interested in for some time. According to Richard Aboulafia, aerospace analyst with the Teal Group, Calhoun was an outside candidate to be …

Boeing ousts its CEO after two deadly 737 Max crashes
5 years ago

Boeing ousts its CEO after two deadly 737 Max crashes

India TV News  

Boeing ousted CEO Dennis Muilenburg on Monday with no end in sight to the crisis that has engulfed the vaunted American aircraft manufacturer since the crash of two of its 737 Max airliners. The company — which has been criticized over the design of the Max, Boeing’s failure to tell pilots about a new flight-control system on the plane, and …

Boeing fires CEO Muilenburg to restore confidence amid 737 crisis, Chairman David Calhoun to take over
5 years ago

Boeing fires CEO Muilenburg to restore confidence amid 737 crisis, Chairman David Calhoun to take over

Firstpost  

By keeping Muilenburg as long as it did, some experts say Boeing ignored part of the crisis communications playbook Boeing Co has fired Chief Executive Dennis Muilenburg after repeatedly failing to contain the fallout from a pair of fatal crashes that halted output of its best-selling jetliner and tarnished its reputation with airlines and regulators. Chairman David Calhoun, a former …

Boeing CEO fired: These are the mistakes that cost Dennis Muilenburg his job
5 years ago

Boeing CEO fired: These are the mistakes that cost Dennis Muilenburg his job

CNN  

New York CNN Business — From the beginning of the 737 Max crisis, Boeing CEO Dennis Muilenburg severely underestimated how much trouble the company faced. 3: Halting production indefinitely Boeing’s eroded relationship with the FAA, Congress and its airline customers ultimately doomed Muilenburg, said Richard Aboulafia, aerospace analyst with the Teal Group. The final misstep came last week when Boeing …

Boeing ousts its CEO after two deadly 737 Max crashes
5 years ago

Boeing ousts its CEO after two deadly 737 Max crashes

Associated Press  

NEW YORK — Boeing ousted CEO Dennis Muilenburg on Monday with no end in sight to the crisis that has engulfed the vaunted American aircraft manufacturer since the crash of two of its 737 Max airliners. The company — which has been criticized over the design of the Max, Boeing’s failure to tell pilots about a new flight-control system on …

CEO will tell Congress that Boeing made mistakes on Max jet
5 years, 2 months ago

CEO will tell Congress that Boeing made mistakes on Max jet

Associated Press  

On the anniversary of the first of two deadly crashes involving Boeing 737 Max jets, the CEO will tell Congress that the aircraft company knows it made mistakes and is throwing everything into fixing the plane. We own that, and we are fixing them.” A key lawmaker said Monday that Boeing should have got things right the first time, before …

Boeing CEO Is No Longer Also Chairman As Company Board Wants Focus On 737 Fix
5 years, 3 months ago

Boeing CEO Is No Longer Also Chairman As Company Board Wants Focus On 737 Fix

NPR  

Boeing CEO Is No Longer Also Chairman As Company Board Wants Focus On 737 Fix Enlarge this image toggle caption Drew Angerer/Getty Images Drew Angerer/Getty Images With the company under intense scrutiny in investigations into two deadly plane crashes, Boeing's board of directors has stripped CEO Dennis Muilenburg of his dual role as company chairman. In a statement on Friday, …

Boeing CEO: 737 Max crisis is a ‘defining moment’ for the company
5 years, 7 months ago

Boeing CEO: 737 Max crisis is a ‘defining moment’ for the company

CNN  

New York CNN — The Boeing 737 Max crisis has become a “defining moment” for the company, according to CEO Dennis Muilenburg. Speaking at a New York analyst conference hosted by AB Bernstein Wednesday, Muilenburg said the company is laser-focused on getting the 737 Max back in the air, although he wouldn’t give a timeline for when he thought that …

Boeing under scrunitiny after 737 Max 8 crash: Live updates
5 years, 9 months ago

Boeing under scrunitiny after 737 Max 8 crash: Live updates

CNN  

An American Airlines Boeing 737 Drew Angerer/Getty Images Boeing begins the day facing serious concerns over its newest aircraft that threaten to tarnish its reputation for safety. Shares in the company fell 3% on Wednesday after President Donald Trump announced he would immediately ground all Boeing 737 Max 8 planes, the model that has been involved in two fatal crashes …

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