Elon Musk Reacts As Boeing CEO David Calhoun Receives $33M Compensation For 2023 Despite Airplane-Maker's Security Woes

Planemaker Boeing Co BA said on Friday that the company paid its outgoing CEO David Calhoun $32.8 million as total compensation in 2023.

What Happened: While Calhoun’s salary only accounts for $1.4 million of his total compensation, he received $30.2 million in stock awards and $1.2 million as all other compensation last year, Boeing said in a regulatory filing.

However, Boeing stock has fallen 27.3% year-to-date, following the incident in January where a door plug panel flew off an Alaska Airlines plane manufactured by the company soon after take off. 

The CEO’s salary marks a nearly 45% jump from a year ago. Calhoun was paid only $22.6 million in 2022.

Former commercial Airlines division CEO Stanley A Deal, meanwhile, saw his compensation rise from $8.8 million in 2022 to $12.5 million last year. Deal no longer holds the executive position.

In late March, Boeing announced that Calhoun would step down by the end of the year. The company also appointed Stephanie Pope as the new head of its commercial airplanes division, replacing Deal, amid falling stock value and increased regulatory scrutiny.

Elon Musk Reacts: Tesla and SpaceX CEO Elon Musk, who is known for cryptic posts among other things, reacted to Calhoun’s pay with an exclamation mark, possibly expressing surprise.

Though most known as a commercial airplane maker, Boeing’s other business unit also caters to making spacecraft, rivaling Musk’s SpaceX.

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