Sen. Tammy Duckworth calls for FAA review of Boeing's failure to disclose 737 Max flight deck features to pilots
CBSMar 29
Boeing CEO Loses Millions in Pay Amid Plane Maker Troubles
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The Facts
Boeing CEO Dave Calhoun — whose pay-packet is largely comprised of deferred stock tied to prices last year — received his annual compensation of roughly $23.6M for the end of the financial year on Friday.
Calhoun, who has already announced he's stepping down amid Boeing's safety troubles, was due to receive $33M in pay. However, with Boeing stocks tumbling as much as 30% since a Jan. 5 blowout of a door plug during an Alaska Airlines flight, as much as $10M was wiped off from his take-home pay.
The Spin
Pro-establishment narrative
Calhoun was in fact due to receive significantly more if it hadn't been for all the problems Boeing ran into. With the stock price tumbling 30%, he has clearly also taken a personal hit — losing nearly $10M in pay.
Establishment-critical narrative
Boeing had roughly $2.2B of losses in 2023 and is undergoing such a crisis that it's reputation may never be repaired. The fact that Calhoun will still make $23.6M in stock payouts this year is absolutely staggering.
