By Sharon Terlep
Boeing's new CEO made $18.4 million in compensation last year after taking over the beleaguered jetmaker in August.
CEO Kelly Ortberg's pay included $16 million in stock and options, a salary of $525,000 and a $1.25 million signing bonus, Boeing said Friday in a regulatory filing.
Ousted CEO David Calhoun received $15 million, including $1.3 million in salary and equity awards valued at $13.2 million. That's less than half of the $33 million Calhous received, mostly stock compensation, in 2023.
Calhoun received no buyout and neither leader received performance bonuses for a year that started with a near-catastrophic fuselage-panel blowout on an Alaska Airlines flight and culminated in a strike by the company's largest union.
Most of the company's top executives received lower overall pay last year compared to 2023.
Boeing is burning through billions of dollars and, in addition to the quality crisis in its commercial airline manufacturing operations, it is struggling with a money-losing defense business and troubled space program.
Boeing also said it restructured salaried-worker incentives for a second straight year. Payouts will be based on the company's overall performance as opposed to individual unit results. The score will be based 80% on financial targets and 20% on meeting operational goals tied to safety and business improvements, such as filling customer orders on time.
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(END) Dow Jones Newswires
March 07, 2025 16:30 ET (21:30 GMT)
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