Boeing Co Chief Executive Dennis Muilenburg said on Wednesday he would forgo &qu...
) Chief Executive Dennis Muilenburg said on Wednesday he would forgo “tens of millions of dollars” in compensation after asking the company’s board of directors to waive his bonuses on Saturday.
FILE PHOTO: Boeing Chief Executive Dennis Muilenburg testifies before a Senate Commerce, Science and Transportation Committee hearing on Capitol Hill in Washington, U.S., October 29, 2019. REUTERS/Sarah Silbiger/File Photo Chairman Dave Calhoun said on Tuesday Muilenburg had asked not to receive any bonuses for 2019 or equity grants and not to receive any new equity grants until the 737 MAX airplane had returned to full service, which might not happen until early 2021. Muilenburg also said he planned to make significant donations to a fund to help the families of 346 people killed in two fatal 737 MAX crashes.Muilenburg received $23.
Calhoun gave Muilenburg a strong vote of confidence on Tuesday, saying the board believed Muilenburg “has done everything right.”“As long the board allows me to serve in this role, I am going to serve in it,” he said. Muilenburg also said the company would support reforms of a long-standing practice of the Federal Aviation Administration, of delegating certification tasks for new airplanes to Boeing and other manufacturers. Several reports faulted this delegation process in the 737 MAX review.Reporting by David Shepardson; Editing by Bernadette Baum
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