Dave Calhoun, President of Boeing
Adam Jeffery | CNBC
Boeing CEO Dave Calhoun did not take most of his 2020 salary or $ 3.6 million bonus, but still received more than $ 21 million in full compensation, as Covid-19 devastated the aviation business last year, the company said on Friday.
Calhoun became CEO in January 2020 after the board sacked former chief executive Dennis Muilenburg due to two fatal accidents with the Boeing 737 Max. Calhoun’s appointment came just before the Covid-19 pandemic shook the global economy. , hitting the aviation industry particularly hard.
Boeing reported a record annual loss last year of nearly $ 12 billion as the cancellations exceeded new sales of jet planes, leading to thousands of job cuts.
Calhoun’s total compensation includes about $ 7 million in shares if the company reaches milestones, including the return of the 737 Max to service, the entry into service of the delayed 777X and other goals, but those shares have not been acquired.
It also includes $ 10 million in inventory for quitting his job at the Blackstone Group to take over the main role at the manufacturer last year and another $ 3.5 million in long-term incentives that were not purchased.