Boeing Co told U.S. lawmakers it will not cancel an incentive award for its new ...
FILE PHOTO: Grounded Boeing 737 MAX aircraft are seen parked in an aerial photo at Boeing Field in Seattle, Washington, U.S. July 1, 2019. Picture taken July 1, 2019. REUTERS/Lindsey Wasson/File Photo
David Calhoun, who took over as Boeing chief executive last month, is receiving a $1.4 million annual salary and is eligible for long-term compensation of about $26.5 million, including a $7 million bonus if he achieves several milestones. The milestones include the return to service of the 737 MAX which was grounded in March 2019 after two fatal crashes that killed 346 people.
“We believe tying our new CEO’s incentive-based compensation to key strategic objectives, including the safe return to service of the 737 MAX, is in the best interest of our company, our workforce, and the flying public,” Boeing government operations executive vice president Tim Keating wrote in a Jan. 23 letter to the lawmakers.
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