Getting Fired And Cashing In At Boeing

Boeing's ousted CEO departs with $62 million, even without severance pay, NBC

"Boeing Co's ousted chief executive officer, Dennis Muilenburg, is leaving the company with $62 million in compensation and pension benefits but will receive no severance pay in the wake of the 737 MAX crisis. Muilenburg was fired from the job in December as Boeing failed to contain the fallout from a pair of fatal crashes that halted output of the company's bestselling 737 MAX jetliner and tarnished its reputation with airlines and regulators. The compensation figures were disclosed in a regulatory filing late on Friday during a difficult week for Boeing when it also released hundreds of internal messages -- two major issues hanging over the company before new CEO David Calhoun starts on Monday. The messages contained harshly critical comments about the development of the 737 MAX, including one that said the plane was "designed by clowns who in turn are supervised by monkeys."

Keith's note: Muilenburg has it nice. Getting fired is lucrative, Meanwhile families who lost people in Boeing 737 Max crashes have not gotten a penny. With the delivery halt, suppliers are already laying workers off. Boeing workers will inevitably be laid off too. They are not going to be as generously paid. Meanwhile the guy who got fired is going to get enough money to buy a commercial crew seat on Boeing's Starliner.

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This page contains a single entry by Keith Cowing published on January 14, 2020 10:01 PM.

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