Search

Boeing CEO grilled at hearing, stays defiant despite 45% raise in accident-filled 2023

TraderKnows
TraderKnows
06-19

On Tuesday, Boeing CEO Dave Calhoun attended a hearing, where he faced harsh questioning from Republican senators. Rather than admitting fault, he expressed pride.

At Tuesday's hearing, U.S. Senators harshly questioned Boeing CEO Dave Calhoun, expressing doubt about his apologies and accountability for the emergency incident involving an airplane in January. These gestures were intended to comfort families who lost loved ones in two 737 MAX crashes. While being interrogated by the Senate Permanent Subcommittee, Senators repeatedly mentioned his compensation, Boeing's safety culture, and why he chose to retire at the end of the year instead of resigning immediately.

In response to sharp questions from Republican Senator Josh Hawley, Calhoun said he was proud of every action he had taken. Hawley questioned why he hadn't resigned and accused him of reaping millions while plundering Boeing.

In 2023, Calhoun's total compensation rose to $32.8 million, a 45% increase from $22.6 million the previous year.

This was Calhoun's first time answering questions before lawmakers. The hearing focused on Boeing's deteriorating safety reputation and his announcement in March to retire by the end of the year, along with significant changes in Boeing's management team.

Senator Richard Blumenthal, who chaired the subcommittee, called the hearing a "reckoning moment" for Boeing and told the hearing there was overwhelming evidence that the U.S. Department of Justice should sue Boeing.

Blumenthal said, "As a former federal prosecutor and state attorney general, I believe the evidence is almost enough to warrant such a lawsuit."

Prosecutors have until July 7 to report their plans to a federal judge in Texas. In May, the Department of Justice found that Boeing failed to "design, implement, and enforce a compliance and ethics program," as part of a deferred prosecution agreement following the fatal accidents.

SKYPE TU

公众号2

Risk Warning and Disclaimer

The market carries risks, and investment should be cautious. This article does not constitute personal investment advice and has not taken into account individual users' specific investment goals, financial situations, or needs. Users should consider whether any opinions, viewpoints, or conclusions in this article are suitable for their particular circumstances. Investing based on this is at one's own responsibility.

The End

Wiki

Compensation

Compensation refers to the act of providing economic restitution to the affected party by the defaulting party or the responsible party in the event of a breach, negligence, or other causes resulting in a loss to the other party in financial or commercial transactions.

Organization

You Missed

Risk Warning

TraderKnows is a financial media platform, with information displayed coming from public networks or uploaded by users. TraderKnows does not endorse any trading platform or variety. We bear no responsibility for any trading disputes or losses arising from the use of this information. Please be aware that displayed information may be delayed, and users should independently verify it to ensure its accuracy.

Contact Us

Social Media

Region

Region

Contact