Boeing Chief Executive Dennis Muilenburg is to take a drastic pay cut.
This was announced by company Chairman Dave Calhoun, who stated that Muilenburg will lose the perks and also the bonus linked to his post.
This decision has been taken in light of harsh criticism against the company following loss of life in two recent incidents involving the Boeing 737 Max, in which 346 persons died. The incidents resulted from a defective safety system.
Boeing is expected to pay out some $5 billion in compensation to clients and their families.
In 2018 Muilenburg earned $23.4 million, of which $20.4 million were perks and bonuses.
Many are of the opinion Muilenburg’s position is no longer tenable, but the US Court has ordered that he continue working without a salary in order to sort out the company’s situation.
Australian authorities in the second most populous state, Victoria, are doing their best to curb the coronavirus outbreak. State Prime Minister Daniel Andrews has announced that some 3,000 families in…