Boeing Co's ousted chief executive officer, Dennis Muilenburg, is leaving t...
) 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 the company failed to contain the fallout from a pair of fatal crashes that halted output of its bestselling 737 MAX jetliner and tarnished its reputation with airlines and regulators. 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.”U.S.
Boeing said in November Muilenburg had volunteered to give up his 2019 bonus and stock awards. For 2018, his bonus and equity awards amounted to some $20 million, according to filings.
United States Latest News, United States Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Boeing says it will not pay severance to ousted CEO MuilenburgOusted Boeing CEO Dennis Muilenburg will not receive severance as part of his departure from the embattled company, the company disclosed late Friday.
Read more »
Virgin Galactic CEO George Whitesides on future of space tourism“Our plan is to have 5 spaceships by 2023 and we’re making good progress through that,” Virgin Galactic CEO George Whitesides said after the company showed off its second commercial spacecraft yesterday.
Read more »
CEO Unveils Bold New Plan To Undo Damage From Last Year’s Bold New PlanNEW YORK—Saying it would mark a significant change in the company’s direction, Paradigm Marketing CEO Paul Dannon announced Monday a bold new plan that was evidently intended to undo the havoc caused by last year’s bold new plan. “It’s time to make some major shifts in how we do things [in reaction to the disastrous major shifts I implemented last year],” said Dannon of the sweeping new initiative that amounted to a point-by-point retraction of his sweeping initiative from almost exactly one year ago. “We’re all going to have to accept some changes [to salvage the resources wasted due to my last disastrous strategic move], but I’m confident this is going to be an important step [backward] for the company. And, who knows, maybe we’ll even have [no] fun [whatsoever] in the process.” At press time, Dannon was laying off several employees whose salaries amounted to the bonus he had received last year.
Read more »
Here are Thursday's biggest analyst calls of the day: Tesla, Snap, Apple, Boeing, Coca-Cola & moreHere are the biggest calls on Wall Street on Thursday.
Read more »
Boeing jet crashes in Iran with no survivors, security sources see technical causeThe Ukrainian airliner that crashed in Iran with no survivors suffered a technical malfunction and wasn't brought down by a missile, five Western security sources told Reuters
Read more »
IAG CEO Willie Walsh to retire, Luis Gallego named new boss
Read more »