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.
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Really fantastic work as CEO, assassinating the guy who was going to testify is a super bold choice on his part.
When you’re too big to fail they just let you murder your whistleblowers
Yeah feels like Dragon Ball Z where a character goes into a new whole level of Super Saiyan that you didn’t know existed except a lot less cool.
Guillotine
$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.
I don’t understand why Boeing isn’t seen as a monopoly. If they had competition in the market they would have to at least up their game a little.
They are a government and defense contractor.
That’s what I’m getting at. Why is the only passenger plane manufacturer in the US also one of the biggest defense contractors?
They do have competition, it’s called Airbus.
Sure, but Airbus isn’t an American company and that means most of the planes flying where I live are Boeing made. I couldn’t find any way to ride on an Airbus on my most recent flight. I personally don’t think that should matter, but it clearly does for American owned airlines.
That still only leaves 2 companies on the planet that make passenger planes. Not much competition.
making effective passenger aircraft simply isn’t economically viable. Both boeing and airbus as well as their competitors in Embraer and whatever the chinese have are all subsidized by their respective governments.
For an insight on the economics and process I liked this article https://www.construction-physics.com/p/a-cycle-of-misery-the-business-of
Poor guy. Hopefully he’s able to make ends meet. May be we can setup a GoFundMe for him.
And as per usual, manager comes in, tripples profit by hollowing out company. Manager then jumps out with a golden parachute right before or when shit hits the fan, leaving it to someone else to cleanup the shit
If I would fly with one of his planes I’d prefer to have a parachute as well.
What a lightweight. Doesn’t even get half of what a certain website’s CEO received.
While 32M is a stupid amount of money for a person to make. I’m actually surprised it isn’t more, there are way more egregious imbalances of CEO pay.
