12 January 2020, Sunday 10:23:51

Former Boeing CEO Muilenburg Leaves With $62 Million

Following the recent departure of the CEO of the American aerospace manufacturing giant, Boeing, Dennis A. Muilenburg has left with $62 million in compensation and pension benefits.

Following the recent departure of the CEO of the American aerospace manufacturing giant, Boeing, Dennis A. Muilenburg has left with $62 million in compensation and pension benefits.

However, according to a note released by Boeing, Muilenburg did not receive any severance pay from the Boeing 737 MAX crisis.

These compensation figures were disclosed in a regulatory filing on 10th January 2020.

Muilenburg’s replacement, David L. Calhoun, takes over as CEO of Boeing from Interim CEO, Greg Smith, on 13th January 2020.

U.S. Senator, Elizabeth Warren slammed Boeing and Muilenburg. “346 people died, and yet, Dennis Muilenburg pressured regulators and put profits ahead of the safety of the passengers, pilots and flight attendants. He’ll walk away with an additional $62.2 million. This is corruption, plain and simple,” she said.

In addition to the $62 million in compensation, Muilenburg still also holds stock options in Boeing that he obtained back in 2013. These stock options would be worth $18.5 million.

Boeing explained in a statement that “upon his departure, Dennis received the benefits to which he was contractually entitled, and he did not receive any severance pay or a 2019 annual bonus.”

Former Boeing CEO Muilenburg Leaves With $62 Million

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