Boeing CEO Dave Calhoun: After the scary incident with an Alaska Airlines Boeing 737 Max 9 plane in January, Boeing’s CEO, David Calhoun, decided not to receive his yearly bonus. This information was shared by Boeing in a document filed with the securities regulators on Friday, April 5, 2024.
Please read the complete article to know about Boeing CEO Dave Calhoun declines the $3 million bonus.
Boeing’s CEO, David Calhoun, earned a total of $33 million in pay for the year 2023. However, he decided to forego a potential bonus of $2.8 million following the alarming incident involving an Alaska Airlines aircraft in January. This information was revealed by Boeing on 5th April 2024.
Calhoun, who is scheduled to step down as CEO by the end of 2024, received a base salary of $1.4 million, along with more than $30 million in stock awards.
The announcement was made in Boeing’s annual proxy statement, amidst heightened scrutiny surrounding the incident on January 5, 2024, when a Boeing 737 MAX 9 aircraft had to make an emergency landing due to a fuselage panel blowing out.
When did the Alaska Airlines accident happen?
On January 5, 2024, a frightening situation unfolded when an Alaska Airlines Max jetliner was flying over Oregon at 16,000 feet. Suddenly, a door-plug panel blew off the aircraft. This incident triggered a crisis for Boeing, similar to the challenges it faced after the tragic crashes involving Max jets in Indonesia in 2018 and Ethiopia in 2019.
After the Alaska Airlines plane crash, the government started looking into Boeing. FAA, NTSB, and the Justice Department started investigating the matter. The FAA even limited Boeing’s production of 737s until they fixed the safety issues.
Boeing CEO Dave Calhoun will leave the company at the end of 2024
On March 25, 2024, Boeing made a significant announcement regarding David Calhoun, stating that he would be stepping down as CEO by the end of the year. Boeing made a big decision related to the change of the Company’s leader. After the mishap of Alaska airlines took place, they took that decision.
Boeing pointed out that Calhoun took over as CEO in January 2020, during a tough time for the company. They were dealing with a big problem: their 737 MAX planes were grounded after two crashes that resulted in tragic loss of lives.
About Boeing CEO Dave Calhoun
Dave Calhoun became the CEO of Boeing in early 2020, replacing the former CEO, Dennis Muilenburg, who left amid a major scandal. The scandal started because two crashes happened with Boeing’s 737 Max planes only five months apart. Around 346 people lost their lives after this.
When Calhoun took on the role of CEO, he promised to increase the security measures. Calhoun also said that he would rebuild the trust of people in the company.
However, in January of this year, there was another concerning incident involving an Alaska Airlines Boeing 737 Max. Shortly after taking off from Portland International Airport, an emergency exit door that should have been secured came loose from the aircraft. Upon investigation, it was discovered that four bolts, meant to keep the door in place, were missing according to the initial assessment by the US National Transportation Safety Board.
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