ARLINGTON, Va. (AP) \u2014 Boeing rewarded CEO David Calhoun with compensation valued at $22.5 million for 2022 but won\u2019t pay him a $7 million bonus because the company will fail to get its new 777X jetliner in service by the end of this year.<\/p>\n\n\n\n
The company said in a regulatory filing Friday that the 777X will be behind schedule \u201cfor reasons largely beyond Mr. Calhoun\u2019s control.\u201d But it did say some of his decisions regarding the plane contributed to the miss.<\/p>\n\n\n\n
Boeing announced last spring that the large, twin-aisle plane would not be delivered to airlines\u00a0until 2025, five years after the original target. The company said directors decided last August that Calhoun\u2019s $7 million bonus would not vest.<\/p>\n\n\n\n
The company based in Arlington, Virginia,\u00a0lost $5 billion in 2022, including write-downs, as it dealt with setbacks to defense projects and ongoing problems with its\u00a0787 Dreamliner\u00a0passenger jet.<\/p>\n\n\n\n
Most of Calhoun\u2019s 2022 compensation was in the form of estimated value of stock and option awards. He received the same $1.4 million salary as in 2021.<\/p>\n\n\n\n
Calhoun became CEO\u00a0in January 2020 after Dennis Muilenburg was ousted in fallout from two crashes of Boeing 737 Max jets that killed 346 people.<\/p>\n\n\n\n
The Boeing board heaped praise on Calhoun, saying he had taken steps to position the company for the future without regard for goals set before the pandemic and \u201cthe changed regulatory environment\u201d \u2013 stricter standards for certifying new planes since the Max crashes.<\/p>\n\n\n\n
<\/p>\n","protected":false},"excerpt":{"rendered":"
ARLINGTON, Va. (AP) \u2014 Boeing rewarded CEO David Calhoun […]<\/p>\n","protected":false},"author":1,"featured_media":2334,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[2],"tags":[],"class_list":["post-2333","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-business"],"_links":{"self":[{"href":"https:\/\/www.viewworld.org\/index.php?rest_route=\/wp\/v2\/posts\/2333","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.viewworld.org\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.viewworld.org\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.viewworld.org\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.viewworld.org\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=2333"}],"version-history":[{"count":1,"href":"https:\/\/www.viewworld.org\/index.php?rest_route=\/wp\/v2\/posts\/2333\/revisions"}],"predecessor-version":[{"id":2335,"href":"https:\/\/www.viewworld.org\/index.php?rest_route=\/wp\/v2\/posts\/2333\/revisions\/2335"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.viewworld.org\/index.php?rest_route=\/wp\/v2\/media\/2334"}],"wp:attachment":[{"href":"https:\/\/www.viewworld.org\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=2333"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.viewworld.org\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=2333"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.viewworld.org\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=2333"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}