Boeing CEO Dave Calhoun’s Compensation Surges to $32.8 Million Amid Company’s Struggles
Despite Boeing’s ongoing challenges, CEO Dave Calhoun received a significant boost in compensation in 2023, totalling $32.8 million, marking a 45% increase from the previous year. This hefty sum includes a substantial stock bonus, underscoring the disparities between executive pay and company performance.
Calhoun’s decision to decline an annual incentive bonus of $2.8 million, following a safety incident involving a Boeing 737 Max plane, spotlighted the company’s enduring safety concerns. The incident, which triggered federal investigations and further tarnished Boeing’s reputation, underscores the ongoing turbulence faced by the aerospace giant under Calhoun’s leadership.
Despite modest financial improvements, including a 60% reduction in core operating losses and a 37% stock gain, Boeing grappled with persistent challenges, including safety lapses and executive turnovers. Calhoun’s impending retirement announcement, coupled with a lucrative retirement package of $45 million in stock awards, signals a transition period for the company amidst ongoing uncertainties.
Amidst mounting criticism, questions loom regarding Calhoun’s legacy and accountability as CEO, particularly in light of Boeing’s prolonged struggles and safety lapses. As the company navigates these challenges, stakeholders await further developments amidst calls for greater transparency and accountability in executive compensation practices.
