Boeing's fired CEO could walk away with a $60 million golden parachute

[PSPS]

Source: CNN

New York (CNN Business)Boeing's ousted CEO Dennis Muilenburg left behind a long list of problems at Boeing, but he's walking away with a sizable golden parachute.

The exact amount of money that he will leave with isn't yet clear. That will depend on his negotiations with Boeing (BA), including how the company labels his departure — for example, was it a retirement? A resignation? A layoff?

But public filings show Muilenburg could be entitled to a benefit plan worth more than $30 million and, potentially, a severance payment of about $7 million. Muilenburg also has another $20 million-plus worth of vested stock and a pension package totaling more than $11 million.


Read more: https://www.cnn.com/2019/12/24/tech/boeing-ceo-dennis-muilenburg-severance/index.html

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Not bad at all to be rewarded $173K per person killed by his malfeasance.

[MiniMe]

1. Oh no! How will he live in the manner in which he has become accustomed?

Whatever will he do?

[Sherman A1]

2. They should give him $1.00

And tell him to get lost.

[Rebl2]

11. I agree!

[Fortinbras Armstrong]

19. Precisely my thought.

Or, I'll even be generous. Two weeks severance pay.

[AllaN01Bear]

24. should have given him nothing at all. which is what we get when we are fired .

[Liberalhammer]

3. Profiting

Off the murder of hundreds. He should be in prison for life.

[Wellstone ruled]

4. Not a bad pay day for

making sure the Public was kept in the dark as to all the Engineering F---kups on the 737 max.

[angrychair]

5. That's awful news

So little he will likely have to get another job after this...poor guy.

[whistler162]

6. Hopefully, no made by Boeing!

[a kennedy]

7. This is so unbelievable AND unacceptable

[AtheistCrusader]

8. Give him a 737 MAX 7 with the original software and one airspeed sensor, and send him on his way.

In lieu of cash.

That's a $25m profit, but he has to fly it home himself.

(Yes, I know he could just turn MCAS off, but still.)

[kimbutgar]

9. It's sick that these sob's get so much "F" off money that they don't have to work the rest of their

Lives. While the rest of us struggle to pay bills every month!

[smirkymonkey]

31. +1000

Grrrrr!

Something is very wrong with the way corporations operate in this country. Shareholders are fine with this, but discourage hiring and pay raises among the rank and file? What bullshit!

[Hekate]

10. That's a helluva lot more parachute than the passengers had

[Rebl2]

12. I think

he should go to prison.

[abqtommy]

13. He can't spend it if he's in jail, can he? Lock him up! Or force him to fly on a 737...

[lordsummerisle]

14. That's obscene n/t

[Dawson Leery]

15. CEO's never pay a real price for their actions.

[AZ8theist]

16. Exactly

Remember the scumbag CEO of British Petroleum? He was off watching a yacht race in England while his Deepwater Horizon was destroying our Gulf of Mexico.

[Dawson Leery]

30. But is the comman man makes one mistake...

then the deplorables go insane demanding their heads.*

* These rules don't apply to deplorables.

[Takket]

17. There should be a law....

[NotHardly]

18. Don't worry, all of them will find new jobs in the Trump Adm or in some other business...

When I was working in govt, we called that "fuck up, move up" because favorite-boy idiots get second, third, and fifteen 'do overs' that would be career ending goofs for the rest of us.

[Kurt V.]

27. +1

[ProfessorGAC]

20. Because Of The Great Successes Boeing Had...

...while he was in charge?
With all the misplaced fascination with shareholder value at all costs, how do they justify this nonsense to the, you know, SHAREHOLDERS?

[walkingman]

21. Welcome to America! where if you do a bad job you get rewarded if you are of the privileged class.

[Llero]

22. People died

And this guy gets millions.

[Vinca]

23. Only in America do you get rewarded for dead people on your watch.

[Maxheader]

25. Stockholders wanted a new jet with revenues..

boosting the company and their own pockets. Schedules be damned

[Kurt V.]

28. Stockholder returns are stagnant. Likely its these ppl that wanted it :

https://www.boeing.com/company/general-info/corporate-governance.page

[dchill]

26. We need to realize that none of us can judge...

...the level of entitlement felt by a millionaire. They are certainly more sensitive to need than we poor folks who feel need and entitlement all the time. Amirite?

[DanieRains]

29. And He Won't Pay Squat In Taxes

Because it isn't the kind of "wages" I earned when I worked for Boeing.

Being rich would be great!