Boeing CEO loses $7M bonus, keeps $22.5 million compensation
1 year, 9 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 CEO in January 2020 after Dennis Muilenburg was ousted in fallout from two crashes of Boeing 737 Max jets that killed 346 people. The Boeing board heaped praise on Calhoun, saying he had taken steps to position the company for the future without regard for goals set before the pandemic and “the changed regulatory environment” – stricter standards for certifying new planes since the Max crashes.

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History of this topic

Boeing's Crisis: A Shrinking Giant Faces the Brink of Collapse
2 months 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
4 months, 3 weeks 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
4 months, 3 weeks 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
4 months, 3 weeks 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 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 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 CEO Blasted by Senators For ‘Broken’ Safety Record
6 months ago

Boeing CEO Blasted by Senators For ‘Broken’ Safety Record

Live Mint  

-- Boeing Co. Chief Executive Officer Dave Calhoun faced searing criticism in a Senate hearing that zeroed in on the company’s manufacturing shortcomings and accused its leader of putting profit ahead of safety. Calhoun’s testimony before a subcommittee chaired by Senator Richard Blumenthal of Connecticut marked his first public appearance before Congress since taking over the top job at Boeing …

Boeing CEO defends his safety record, spars with senators and apologizes to crash victims’ relatives
6 months ago

Boeing CEO defends his safety record, spars with senators and apologizes to crash victims’ relatives

Associated Press  

Boeing CEO David Calhoun defended the company’s safety record during a contentious Senate hearing Tuesday, while lawmakers accused him of placing profits over safety, failing to protect whistleblowers, and even getting paid too much. The latest whistleblower, Sam Mohawk, a quality assurance investigator at Boeing’s 737 assembly plant near Seattle, told the subcommittee that “nonconforming” parts — ones that could …

‘Why haven’t you resigned?’ Senators torch Boeing CEO as he apologizes for deadly failures
6 months ago

‘Why haven’t you resigned?’ Senators torch Boeing CEO as he apologizes for deadly failures

Politico  

Then Calhoun turned and took a pounding from a panel of lawmakers, who brought fresh whistleblower allegations that Boeing was knowingly hiding its problems from regulators. And once that chasm was exposed, we learned that there was virtually no bottom to the void that lay below.” Sen. Josh Hawley was even more blunt, asking Calhoun: “Why haven’t you resigned?” “I’m …

Boeing shareholders approve CEO’s compensation as company faces investigations, possible prosecution
7 months 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
7 months, 4 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’s financial woes continue, while families of crash victims urge US to prosecute the company
8 months ago

Boeing’s financial woes continue, while families of crash victims urge US to prosecute the company

Associated Press  

Boeing said Wednesday that it lost $355 million on falling revenue in the first quarter, another sign of the crisis gripping the aircraft manufacturer as it faces increasing scrutiny over the safety of its planes and accusations of shoddy work from a growing number of whistleblowers. CEO David Calhoun said the company is in “a tough moment,” and its focus …

Boeing CEO rejects $3 million bonus due to Alaska Airlines incident
8 months, 2 weeks 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
8 months, 2 weeks 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
8 months, 2 weeks 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 …

Inside Boeing CEO Dave Calhoun's $24M exit package amid nightmare aircraft safety scandal
8 months, 3 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
8 months, 4 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
8 months, 4 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
8 months, 4 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
8 months, 4 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 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
8 months, 4 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
8 months, 4 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, …

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 scraps CEO Dave Calhoun’s $7 Mn bonus after 777X delays
1 year, 9 months ago

Boeing scraps CEO Dave Calhoun’s $7 Mn bonus after 777X delays

Live Mint  

Boeing Co. Chief Executive Officer Dave Calhoun won’t collect a controversial $7 million payout due to the long-delayed launch of the company’s 777X widebody jet. Vesting was contingent upon Calhoun leading Boeing to several key milestones by the end of this year, including the successful introduction and production ramp-up of the 777X. “It is clear that this goal will not …

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 CEO laments deal with Trump for Air Force One planes
2 years, 7 months ago

Boeing CEO laments deal with Trump for Air Force One planes

Associated Press  

Boeing’s CEO is lamenting the deal that his company cut with former President Donald Trump to produce new Air Force One jets. David Calhoun said “it was a public negotiation” and “we took some risks” in accepting a fixed-price contract that made Boeing responsible if it cost more than expected to convert two Boeing 747 jumbo jets into presidential planes. …

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 ordered to pay $3.2 billion in compensation, penalties two years after deadly crashes
3 years, 11 months ago

Boeing ordered to pay $3.2 billion in compensation, penalties two years after deadly crashes

ABC  

The world's largest aerospace company Boeing has been fined US$2.5 billion over two plane crashes that killed 346 people, but will not be forced to plead guilty to criminal charges, the US Justice Department says. Key points: US aviation authorities charged Boeing with conspiracy and ordered it to ground its 737 Max planes for almost two years Two crashes killed …

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