Boeing CEO Loses $7 Million Bonus, But Keeps $22.5 Million Compensation
March 3, 2023 2:28PM PST
ARLINGTON, Va. (AP) — Boeing’s CEO is missing out on a $7 million bonus because the company’s new large jet is behind schedule.
But Boeing said Friday that CEO David Calhoun still got compensation valued at $22.5 million for 2022.
The company says the $7 million bonus won’t vest because its new 777X jetliner won’t be ready to enter service by the end of this year.
The company expects the plane to begin flying in 2025, or five years later than originally planned.
Boeing lost $5 billion last year including write-downs, as it dealt with setbacks to its 787 Dreamliner passenger jet and defense projects.