Boeing CEO Dave Calhoun was awarded a giant stock bonus on top of his more-than-a-million-dollar salary last year, despite overseeing a company that has been plagued by chronic losses and safety problems.
Calhoun’s total compensation in 2023 was $32.8 million, a 45% increase from the $22.6 million he received for 2022. And it could have been a lot more: He declined to accept his annual incentive bonus of $2,800,000 – a request the board said he made after part of a Boeing 737 Max plane blew off the side of an Alaska Airlines flight in January, kicking off a series of federal investigations, a temporary grounding, executive ousters and another embarrassing public relations blunder for the company.
$32.8 million seems like a bit of an overpay. I mean sure, he was able to maximize shareholder value, but parts falling off of planes in mid-flight and dead whistle blowers may have an impact on future earnings.
I’m waiting for the front to fall off of one.
The front is not expected to fall off, to make that clear.