The Boeing CEO who was ousted last month for the company's botched response to two crashes and the grounding of its bestselling plane will walk away with US$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 was fired in late December after failing to get the company's 737 Max jetliner back in the air. Calhoun, 62, will get a base salary of $1.4 million but potentially several million more in bonuses and stock awards, including $7 million if he gets the Max back in service. Muilenberg was named CEO in 2015 and presided over a rapid rise in the Chicago-based company's stock price. The shares have dropped 26% in the last 10 months, however, as the Max's recovery stalled.
Canada Latest News, Canada Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
CEO of company that fired employee over BBQ sauce tweet: 'Calmer heads didn't prevail'The CEO of a company that fired an employee for complaining on Twitter about receiving a $6 bottle of barbecue sauce as a holiday gift admits that the response may have been an overreaction, but said it was completely legal.
Read more »
Boeing papers show employees slid 737 Max problems past FAABoeing employees knew about problems with flight simulators for the now-grounded 737 Max and apparently tried to hide them from federal regulators, according to documents released Thursday.
Read more »
'Designed by clowns': Boeing releases flood of troubling internal documents related to 737 MaxBoeing employees ridiculed the 737 Max's regulatory certification progress and crudely expressed doubts about the plane's ability to fly safely, according to a trove of newly released internal documents.
Read more »
TMX Group says CEO to retire early, finds no evidence of misconduct‘Historical allegations’ of sexual harassment and sexual misconduct by Lou Eccleston while at Bloomberg in U.S.
Read more »
TMX Group CEO Lou Eccleston steps down following historical allegationsTMX Group Ltd. says chief executive Lou Eccleston is stepping down immediately following allegations against him related to conduct prior to his time at the company.
Read more »
Boeing supplier Spirit to lay off more than 20 per cent of workforce in Kansas: memoThe layoffs mark the first major 737 Max-related disruption at one of the world’s largest aerospace companies
Read more »