Crisis-ridden Boeing hopes for quiet annual meeting

Shareholders will vote on whether to reelect Dave Calhoun to the board, which would extend his service to the troubled aviation giant after he steps down as CEO at the end of 2024. Photo: Anna Moneymaker / GETTY IMAGES NORTH AMERICA/Getty Images via AFP/FileBoeing's annual meeting on Friday comes amid an exceptionally difficult period for the crisis-ridden company, creating potential for drama at an event that is usually a snooze-fest.

Calhoun, who has faced tough questioning in the wake of a near-catastrophic Alaska Airlines flight in January, will step down as CEO at the end of 2024, but has been renominated to the board of directors.But the advisory services firm Glass Lewis wants shareholders to reject Calhoun's nomination, while Investor Shareholder Services has recommended a"no" vote on Calhoun's compensation package, which came in at about $33 million for 2023.

The Glass Lewis report recognized that other Boeing board members on the safety committee have"extensive, critical expertise in risk management and aviation safety" and that voting down the whole group"would not be conducive to long-term shareholders' interests."Under the plan, Calhoun received a base salary of $1.4 million, plus more than $30 million coming in stock awards. Calhoun declined a potential $2.

Source: News Formal (newsformal.com)

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