Boeing's new CFO Malave to receive $1.05 million salary, with restrictions due to prior role

Boeing Co’s new CFO, Jesus “Jay” Malave, will earn $1.05 million as his annual base salary. He will also be eligible for annual and long-term incentive awards totaling $1.26 million and $6.5 million, respectively. Malave, a former Lockheed Martin executive, will not work in Boeing’s Defense, Space & Security business until the end of the year due to his prior role.

Additionally, Malave will be restricted from working on vendor relationships involving Lockheed until April 2026 and from participating in procurement matters where Lockheed is a competitor until April 2027. Boeing will pay Lockheed $2 million to settle claims related to Malave’s hiring. Malave’s appointment as CFO is effective August 15.

Read more at Yahoo Finance: Boeing’s new CFO Malave to receive $1.05 million as annual base salary