Washington, April 7 (PENIAZE24) – Boeing CEO David Calhoun is set to receive a significantly higher compensation in 2023. His reward will be 45% higher than the previous year, reaching a total of $32.7 million. This comes despite Boeing facing serious safety incidents with its airplanes.
Calhoun has announced his departure from the position at the end of 2024. However, a generous financial reward awaits him before then. This news raises questions considering the problems Boeing has experienced recently.
These issues include an incident in January 2023, when a panel of the fuselage fell off a Boeing 737 MAX 9 during flight. In the same month, a Boeing 747 caught fire shortly after takeoff from Florida. And finally, in March 2023, a Boeing 777 heading to Japan had to make an emergency landing after a wheel fell off after takeoff from San Francisco and damaged cars in the parking lot.
U.S. regulators responded to these events by giving Boeing 90 days to develop and submit a plan to address quality control issues.
Who is David Calhoun?
David Calhoun is an American business executive who has served as the President and Chief Executive Officer (CEO) of Boeing since 2020. He previously served as Chairman of the Board and took over the leadership of the company during a time marked by safety issues with the 737 MAX aircraft after two tragic crashes that claimed the lives of 346 people.
David Calhoun’s background and career:
- Born on April 18, 1957 in Philadelphia and raised in Allentown, Pennsylvania.
- Earned a bachelor’s degree from Virginia Tech with a specialization in accounting.
- Worked for 26 years at General Electric (GE) where he held various leadership positions.
- Became CEO of VNU (later renamed Nielsen Holdings) in 2006, an information services company.
- Later became Executive Chairman of Nielsen Holdings and joined The Blackstone Group, an investment firm.
- Served on Boeing’s board of directors since 2009 and was named independent chairman of the board in 2018.
Calhoun has faced turbulent times at Boeing but has strived to stabilize the company and restore public trust in the safety of its aircraft. His planned departure at the end of 2024, coupled with a high compensation package, has raised questions and controversy.
Additional key information about David Calhoun:
- He is an experienced fighter pilot and served in the United States National Guard.
- He has held senior positions at reputable companies such as General Electric and Honeywell.
- He is a recipient of several awards for his management skills and leadership.
- He is married and has two children.
Calhoun is a complex figure with an extensive career and a rich life. His tenure at Boeing has been marked by turbulence as well as significant achievements. His successor will have the daunting task of keeping Boeing on an upward trajectory and addressing challenges such as restoring full public trust.
Sources:
- Boeing: https://www.boeing.com/
- Wikipedia: https://en.wikipedia.org/wiki/Dave_Calhoun
- Wall Street Journal: https://www.wsj.com/business/airlines/boeing-ceo-private-jets-return-to-office-9bee2035
