This post was originally published on this sitehttps://i-invdn-com.akamaized.net/trkd-images/LYNXMPEG131UV_L.jpg
WASHINGTON (Reuters) – Boeing Co (N:) told U.S. lawmakers it will not cancel an incentive award for its new chief executive tied to the return of its grounded 737 MAX return despite criticism from Congress, according to a letter made public Tuesday.
David Calhoun, who took over as Boeing chief executive last month, is receiving $1.4 million annual salary and is eligible for long-term compensation of about $26.5 million, including a $7 million bonus if he achieves several milestones, including the return to service of the 737 MAX that was grounded after two fatal crashes killed 346 people.
Fusion Media or anyone involved with Fusion Media will not accept any liability for loss or damage as a result of reliance on the information including data, quotes, charts and buy/sell signals contained within this website. Please be fully informed regarding the risks and costs associated with trading the financial markets, it is one of the riskiest investment forms possible.