From CNBC: 2024-04-05 17:53:43

Boeing CEO Dave Calhoun’s 2023 total compensation fell to $25 million, down from $32.8 million, due to declined bonuses. His take-home pay plummeted to $5 million from $7 million. Stan Deal, former commercial airplanes division head, received $12.5 million. Calhoun will step down by the end of 2024 amidst ongoing 737 Max safety concerns and financial losses.

The 737 Max safety crisis, highlighted by the Alaska Airlines incident, has caused Boeing’s stock to drop almost 30% this year. A recent shakeup saw Calhoun, Chairman, and commercial airplane unit head replaced. Executive compensation will now be linked to safety goals to address quality concerns and improve cash flow.

Boeing faces investigations and production caps by the FAA after the Alaskan Airlines door plug incident. The company will focus on quality and safety goals for all business units this year. Boeing has not posted an annual profit since 2018 and aims to restore financial stability by meeting safety targets and addressing quality concerns.



Read more at CNBC: Boeing CEO Calhoun took home $5M last year ahead of 737 Max crisis