Boeing CEO Mullenberg will give up 2019 bonus

Boeing’s new chairman, David Calhoun, said Tuesday that its chief executive, Dennis muilenburg, will give up his bonus this year as the embattled company tries to cope with the negative consequences of two 737 Max crashes.


Mr. Calhoun said Mr. Mullenberg would not receive the 2019 bonus and that he was trying to forgo his personal salary, but the company did not intend to agree that he would not accept an equity bonus until the 737 MAX returned.

Mr Calhoun added that he had “done nothing wrong” and that Mr Mulenberg was the right man to return the 737 MAX.

Although a Boeing 737 Max crashed in Indonesia in October 2018, Mr. Mullenberg’s prize money last year was $20 million.

In March, another Boeing 737 Max crashed in Ethiopia. The two crashes killed a total of 346 people.

Last week, lawmakers expressed dissatisfaction with Mr. Mullenberg’s pay and his refusal to step down during the crisis.

On October 11th Boeing’s board of directors stripped him of his chairmanship, but said it had “full confidence” in his role as CEO, a move that would help him better address the 737 Max problem.

After the second crash in March, regulators grounded the 737 Max worldwide, forcing Boeing to suspend delivery and slashing production of its best-selling aircraft.

Boeing has been trying to get regulators to approve the 737 Max to resume flights, but so far has not. However, Mr Calhoun said the schedule suggested that the FAA would approve the re-launch of the 737 MAX within the year.

Add a Comment

Your email address will not be published. Required fields are marked *