Boeing’s embattled chief executive officer Dennis Muilenburg will forgo millions amid controversy surrounding two deadly crashes.
Additionally, Muilenburg yesterday said he considered resigning after the incidents but noted “that’s not what’s in my character”, at the New York Times annual DealBook Conference. “As long as the board allows me to serve in this role, I am going to put everything into it that I can.”
Muilenburg received US$13 million bonus last year in addition to his US$1.7 million salary. He also received another $7.3 million in stock awards.
Just last week, he came under fire at a US Senate hearing following inquiring about the company’s 737 Max crashes which killed 346 people.
A Lion Air plane crashed into the Java Sea killing all 189 people on board in October 2018. Just five months later, an Ethiopian Airlines craft went down in Addis Ababa killing all 157 people aboard. The entire 737 Max fleet was grounded shortly after the second crash in March.
At the Senate hearing, US lawmakers accused the aerospace company of making “flying coffins”. Muilenburg admitted that “mistakes” were made but said the company had learned from them and identified changes to be made.
“As long as the board allows me to serve in this role, I am going to put everything into it that I can.”– Boeing CEO, Dennis Muilenburg
Members of the Senate committee said Boeing staff had previously mentioned issues with the airplane’s 737 Max’s automated control system, but ignored them get relevant approvals.
Muilenburg was replaced by David Calhoun as chairman of the Boeing board a month ago.