Dave Calhoun, President of Boeing
Adam Jeffery | CNBC
Boeing CEO Dave Calhoun received a total of $ 21 million in compensation for his work last year, but gave up $ 3.6 million in salary and bonuses after the coronavirus pandemic hit and devastated the industry. .
He received only $ 269,231 from his $ 1.4 million salary for that year.
Most of Calhoun’s salary package, revealed when he became CEO in January 2020, is made up of equity that is announced over time and is based on the company’s performance goals and other values.
Calhoun was named CEO after Boeing’s management fired former chief executive Dennis Muilenburg for handling two fatal crashes of the company’s best-selling Boeing 737 Max. Calhoun’s appointment came just before the Covid-19 pandemic shook the global economy, hitting the aviation industry in particular.
Boeing reported a record annual loss for nearly $ 12 billion last year as cancellations outpaced new aircraft sales, causing thousands of job cuts.
Calhoun’s full compensation includes awards that were revealed when he took office in January last year, including shares worth about $ 7 million if the company reaches milestones, including the reopening of 737 Max, the commissioning of long-delayed 777X and other targets, but those shares did not acquire.
It also includes $ 10 million in stock because he left his job at Blackstone Group to take the top job at the aircraft manufacturer last year and another $ 3.5 million in long-term incentives, who have not acquired.