Departing Boeing CEO Dave Calhoun took home $33M in 2023 as company reels from midair blowout
NY Post
The 2023 pay package of Boeing’s CEO, who recently announced his departure amid a safety crisis, rose about 45% to nearly $33 million, the planemaker said Friday.
However, Boeing said that much of CEO Dave Calhoun’s compensation is in deferred stock that has fallen in value following a January mid-air panel blowout.
The adjusted value of Calhoun’s total 2023 compensation is $24.8 million, the company said in a regulatory filing. Boeing shares have tumbled nearly 30% so far this year as the company wrestles with quality concerns from regulators and customers following the Jan. 5 blowout on an Alaska Airlines 737 MAX 9 jet.
Calhoun announced on March 25 that he will step down from the top job by year-end. In 2022, he received $22.6 million in total compensation, according to the filing.
Calhoun’s potential retirement payouts were valued at more than $44 million as of year-end 2023, the filing showed.
Production of Boeing’s strong-selling 737 MAX has slipped in recent weeks as US regulators step up factory checks and the planemaker seeks to boost quality. In the meantime, European rival Airbus has extended its lead in the market for single-aisle jets.
