Boeing unveils new executive performance metrics tied to product safety
Reuters
Published Mar 05, 2021 20:20
(Reuters) - Boeing (NYSE:BA) Co's board on Friday unveiled new performance metrics for executives tied to product safety and quality, following fatal 737 MAX crashes related to design defects and as it wrestles with repairs to flawed 787 Dreamliner jets.
The planemaker said its Chief Executive Officer David Calhoun had a take-home pay of $269,231 in 2020 after he agreed to forgo his pay and incentive bonus in March last year as the COVID-19 pandemic set in, according to a proxy filing.
Calhoun still earned $21.1 million in total compensation in 2020 after foregoing about $3.6 million, the company said.
When Calhoun took over as Boeing's CEO in January 2020, he was also entitled to two supplemental equity awards worth $17 million, but they were not eligible to be vested last year, according to the company.
The disbursal of a portion of the equity awards is linked to the safe return to service of the 737 MAX jets, and the successful entry into service of the 777X aircraft, among other conditions, Boeing said.
Get The App
Written By: Reuters
Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.