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(FILES) In this file photo taken on October 02, 2019 Boeing CEO Dennis Muilenburg speaks at the Economic Club of New York's in New York City. - Boeing unveiled a shift to its leadership structure on October 11, 2019, as it manages the 737 MAX crisis, announcing that Dennis Muilenburg will remain chief executive but step down as chairman. (Photo by Johannes EISELE / AFP) (Photo by JOHANNES EISELE/AFP via Getty Images)

Boeing boss to forgo bonus; will not step down

(FILES) In this file photo taken on October 02, 2019 Boeing CEO Dennis Muilenburg speaks at the Economic Club of New York's in New York City. - Boeing unveiled a shift to its leadership structure on October 11, 2019, as it manages the 737 MAX crisis, announcing that Dennis Muilenburg will remain chief executive but step down as chairman. (Photo by Johannes EISELE / AFP) (Photo by JOHANNES EISELE/AFP via Getty Images)

Boeing’s embattled chief executive officer Dennis Muilenburg will forgo millions amid controversy surrounding two deadly crashes.

Site of the Ethiopian Airlines crash. (Photo: independent.co.uk)

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.

Boeing CEO, Dennis Muilenburg (Photo: Financial Times)

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.