GREY:NMKEF - Post by User
Post by
Tcheckon Nov 05, 2019 1:43pm
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Post# 30311415
A little cut here and there
A little cut here and there a bit of pruning and trimming does wonders.
In an interview on
CNBC Tuesday morning, Dave Calhoun, who was named Boeing's chairman last month when the board
stripped Muilenburg of that title, said that the CEO called him Saturday morning to suggest he shouldn't take any stock or bonus money for this year.
The pay cut is due to widespread criticism of the company after
two fatal 737 Max crashes that killed 346 people and have been
tied to a faulty safety system on the plane. The jet has been
grounded since March, which has
cost airlines billions of dollars, and Boeing is preparing to pay those customers
$5 billion in compensation, as well as reaching
settlements with families of the crash victims.
The stock and bonus make up the overwhelming majority of Muilenberg's pay. In 2018, he received total compensation of $23.4 million, of which $20.4 million was in the form of stock and bonuses.