Boeing CEO's 2023 pay increases to nearly $33 million, shares fell 30%, production impacted.

From Investing.com: 2024-04-05 18:39:21

Boeing CEO’s 2023 pay package increases by 45% to nearly $33 million, with adjusted value at $24.8 million. Shares fell 30% this year due to quality concerns. Production of 737 MAX impacted as Airbus leads single-aisle market. Management shakeup includes CEO departure and new board chair promising change.

CEO declined $2.8 million bonus, taking home $5 million in pay. Deal’s total compensation jumps 42% to $12.5 million. Board decided to reduce long-term awards based on stock price decline. Boeing revamped compensation policies post 737 MAX crashes, now prioritizing safety and quality in executive incentives.

Safety and quality will now hold a 60% weighting in Boeing’s commercial airplanes annual incentives. Long-term incentive awards to include new metrics like employee culture surveys. Expert panel highlighted disconnect on safety culture within Boeing. Shareholder advocacy group commends Boeing’s safety focus as crucial.



Read more at Investing.com: Departing Boeing CEO gets nearly $33 million in 2023 total compensation By Reuters