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Fired Boeing CEO will receive more than $60 million

  • ASSOCIATED PRESS
                                Fire Boeing Chief Executive Officer Dennis Muilenburg appears before a Senate Committee on Capitol Hill in Washington. Muilenburg will leave the company with more than $60 million, the company said.

    ASSOCIATED PRESS

    Fire Boeing Chief Executive Officer Dennis Muilenburg appears before a Senate Committee on Capitol Hill in Washington. Muilenburg will leave the company with more than $60 million, the company said.

Dennis Muilenburg, who was ousted as Boeing’s chief executive last month as the company contended with the biggest crisis in its history, will leave the company with more than $60 million, the company said today.

Muilenburg will not receive any additional severance or separation payments in connection with his departure, and Boeing said he had forfeited stock units worth some $14.6 million.

But the value of the other stock and pension awards he is contractually entitled to receive is worth $62.2 million, the company said.

“We thank Dennis for his nearly 35 years of service to the Boeing Company,” the company said in a statement. “Upon his departure, Dennis received the benefits to which he was contractually entitled and he did not receive any severance pay or a 2019 annual bonus.”

Boeing’s new chief executive, David Calhoun, will receive a $7 million bonus if he is able to get the 737 Max, which has been grounded since March, safely flying again. The jet was grounded in the wake of two deadly crashes that left 346 people dead.

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