Boeing CEO Dave Calhoun said he would step down by the end of the year amid Boeing's 737 Max safety crisis.
Boeing disclosed the take-home pay and executive compensation in a filing on Friday. The company said it will now more closely tie executive compensation to safety goals."I promise that I personally, and we as a Board, will leave no stone unturned in our efforts to get this company where it needs to be," newly-named Boeing Chairman Steve Mollenkopf said in a message to shareholders in a filing on Friday.
Boeing shares are down nearly 30% this year, while the broader market is up. The Jan. 5 accident has slowed deliveries of new jets and Boeing has said it will burn more cash than it previously expected. The company is scheduled to release first-quarter results on April 24. Calhoun took the helm at Boeing in January 2020 after his predecessor was ousted for his handling of the aftermath of two fatal crashes of the 737 Max. In addition to the Covid-19 pandemic's devastating effect on the aviation industry, Boeing has also had a host of quality defect on its aircraft. Those have slowed deliveries of new planes to customers clamoring for fresh jets as travel snapped back and hurting Boeing's cash flow.
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