Planemaker Boeing Co BA reported that outgoing CEO David Calhoun received a staggering $32.8 million in total compensation for 2023.

The Breakdown of Compensation

What Happened: While $1.4 million came from Calhoun’s salary, he pocketed $30.2 million in stock awards and $1.2 million as other compensation, as outlined in a recent regulatory filing by Boeing.

Stock Plunge Amidst Security Incident

Boeing’s stock has plummeted by 27.3% year-to-date, following a troubling incident in January when a door plug panel detached from an Alaska Airlines aircraft shortly after takeoff.

Financial Upheaval in the Executive Suite

Calhoun’s salary saw a nearly 45% surge from the previous year, jumping from $22.6 million in 2022 to $32.8 million in 2023. On the other hand, former commercial Airlines division CEO Stanley A Deal‘s compensation rose from $8.8 million in 2022 to $12.5 million in the last year, despite no longer holding an executive role.

Leadership Shuffle and Musk’s Reaction

In a strategic move, Boeing announced Calhoun’s imminent departure by year-end and appointed Stephanie Pope as the new head of its commercial airplanes division, replacing Deal. Amidst declining stock value and increased regulatory scrutiny, this move aims to steer the company towards calmer skies.

Elon Musk Reacts: Tesla and SpaceX maven Elon Musk – known for his enigmatic tweets and larger-than-life ventures – responded to Calhoun’s compensation with a cryptic exclamation mark, likely expressing astonishment at the eye-popping figure.

A Complex Aerospace Landscape

Beyond its commercial aircraft branch, Boeing delves into spacecraft production, offering competition to Musk’s SpaceX. The dynamic between these aerospace titans adds an intriguing layer to this unfolding narrative.

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