Boeing’s ousted CEO departs with $62 million in benefits
The Boeing CEO who was ousted last month for the company’s botched response to two crashes and the grounding of its best-selling plane will walk away with $62.2 million, the company disclosed Friday.
Boeing said, however, that Dennis Muilenburg will not get additional severance or a 2019 bonus, and will forfeit stock awards worth $14.6 million.
Muilenburg, who spent more than 30 years at Boeing, also has unexercised stock options that he has held since 2013 and that are worth more than $18.5 million at Friday’s closing price.
Boeing board Chairman David Calhoun will take over as CEO on Monday. He is a former General Electric and Nielsen executive with a reputation as a turnaround specialist.
Calhoun, 62, will get a base salary of $1.4 million but potentially several million more in bonuses and stock awards, including $7 million if he gets the Max back in service.
Muilenberg was named CEO in 2015 and presided over a rapid rise in the Chicago-based company’s stock price. The shares have dropped 26% in the last 10 months, however, as the Max’s recovery stalled.







