Boeing Will Not Cancel CEO Incentive Award Tied To 737 MAX Return
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February 5, 2020 - by David Shepardson by reuters.com
WASHINGTON (Reuters) - Boeing Co (BA.N) told U.S. lawmakers it will not cancel an incentive award for its new chief executive tied to the return of its grounded 737 MAX despite criticism from Congress, according to a letter made public on Tuesday.
David Calhoun, who took over as Boeing chief executive last month, is receiving a $1.4 million annual salary and is eligible for long-term compensation of about $26.5 million, including a $7 million bonus if he achieves several milestones.
The milestones include the return to service of the 737 MAX which was grounded in March 2019 after two fatal crashes that killed 346 people...