Boeing CEO to forgo equity pay and bonuses amid 737 Max scandal - Business Insider

  • 📰 BusinessInsider
  • ⏱ Reading Time:
  • 27 sec. here
  • 2 min. at publisher
  • 📊 Quality Score:
  • News: 14%
  • Publisher: 51%

Philippines News News

Philippines Philippines Latest News,Philippines Philippines Headlines

Boeing’s CEO will forgo most of his pay for 2020, following sharp criticism from Congress over the company’s 737 Max scandal

"It came in 2 fronts," Calhoun told the network. "No short, no long-term bonus, and no consideration for equity grants until the Max in its entirety is back in the air and flying safely."

In 2018, Muilenburg 's pay rose 27% from the previous year, consisting of $1.7 million in salary and a $13 million bonus, according to regulatory filings. The appearances before the two committees were Muilenburg 's first public testimonies since the two jets crashed in October 2018 and in March. Each flight crashed within minutes of taking off. A combined 346 people were killed. Both crashes have been attributed to an automated system known as MCAS, or Maneuvering Characteristics Augmentation System.

 

Thank you for your comment. Your comment will be published after being reviewed.
Please try again later.
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

 /  🏆 729. in PH

Philippines Philippines Latest News, Philippines Philippines Headlines