{"id":63749,"date":"2024-05-18T22:36:07","date_gmt":"2024-05-18T17:06:07","guid":{"rendered":"https:\/\/aviationa2z.com\/?p=63749"},"modified":"2024-08-16T01:00:17","modified_gmt":"2024-08-15T19:30:17","slug":"boeing-board-approves-32-8-billion-compensation-re-elects-ceo-calhoun","status":"publish","type":"post","link":"https:\/\/aviationa2z.com\/index.php\/2024\/05\/18\/boeing-board-approves-32-8-billion-compensation-re-elects-ceo-calhoun\/","title":{"rendered":"Boeing Board Approves $32.8 Million Compensation, Re-elects CEO Calhoun"},"content":{"rendered":"\n

ARLINGTON-<\/strong> As Boeing <\/a>prepares to meet with the Federal Aviation Administration (FAA) <\/a>regarding its quality-control issues, shareholders at the company’s annual general meeting (AGM) on Friday re-elected CEO David Calhoun and approved his $32.8 million compensation package, according to the Associated Press on May 17.<\/p>\n\n\n\n

During the meeting, Calhoun and other executives outlined plans to enhance the quality and safety of Boeing’s aircraft, particularly in light of an incident in January where a door plug blew off a Boeing 737 Max jetliner.<\/p>\n\n\n\n

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Photo: By airbus777 from Washington, DC, USA – Boeing South Carolina assembly line, CC BY 2.0, https:\/\/commons.wikimedia.org\/w\/index.php?curid=67678553<\/figcaption><\/figure>\n\n\n\n

Boeing Re-elects CEO Calhoun<\/h2>\n\n\n\n

The AGM was held online, with a moderator directing a few shareholder questions to Calhoun and Steven Mollenkopf, the new chairman of Boeing’s Board of Directors. Notably, the questions posed were not particularly challenging.<\/p>\n\n\n\n

The CEO mentioned that Boeing is finalizing a 90-day plan to address its manufacturing issues, prompted by a Federal Aviation Administration (FAA) request following the door plug blowout incident.<\/p>\n\n\n\n

“We expect the FAA to take the necessary time to review our plan and ensure we adhere to the control measures established as we progress,” Calhoun stated, according to Reuters.<\/p>\n\n\n\n

He also noted that Boeing is working on acquiring key supplier Spirit AeroSystems, though no deadline has been set.<\/p>\n\n\n\n

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Photo:- Spirit Aerospace <\/figcaption><\/figure>\n\n\n\n

Multiple Challenges<\/h2>\n\n\n\n

Spirit AeroSystems, responsible for manufacturing fuselages for Max jets, has been a source of manufacturing defects.<\/p>\n\n\n\n

Boeing faced significant criticism on January 5, 2024, after a door plug on a 737 MAX jetliner<\/a> operated by Alaska Airlines blew out.<\/p>\n\n\n\n

The company is also potentially facing criminal prosecution for allegedly violating the terms of a settlement with the Justice Department following two fatal Max crashes in 2018 and 2019.<\/p>\n\n\n\n

Stay tuned with us. Further, follow us on social media for the latest updates.<\/p>\n\n\n\n

Join us on Telegram Group <\/a>for the Latest Aviation Updates. Subsequently, follow us on Google News<\/a>.<\/p>\n\n\n\n

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United CEO Lunch with Boeing’s New CEO, Discuss about Progress<\/a><\/blockquote>