Dennis Muilenburg, president and CEO of the Boeing Firm, testifies earlier than the Home Transportation and Infrastructure Committee October 30, 2019 on Capitol Hill in Washington, DC. The committee held a listening to on “The Boeing 737 MAX: Inspecting the Design, Improvement, and Advertising and marketing of the Plane.” (Picture by Alex Wong/Getty Pictures)
Alex Wong / Getty Pictures
Boeing denied former CEO Dennis Muilenburg severance in his departure final month, the corporate mentioned in a submitting Friday.
Boeing fired Muilenburg final month amid a ballooning disaster round its 737 Max jets within the wake of two deadly crashes that killed 346 individuals. Longtime board member Dave Calhoun will grow to be Boeing’s new CEO on Monday.
A Boeing lifer who joined the corporate as an intern, Muilenburg exacerbated Boeing’s 737 Max issues by repeatedly issuing forecasts about when the planes would return to service, drawing uncommon public rebukes from the Federal Aviation Administration.
He was additionally criticized by lawmakers for taking too lengthy to simply accept blame within the crashes and for failing to identify security dangers earlier than the aircraft, Boeing’s best-seller, got here to market in 2017.
“Mr. Muilenburg is just not entitled to — and didn’t obtain — any severance or separation funds in connection along with his retirement after greater than 30 years with the Firm,” Boeing mentioned within the submitting.
Correction: This text has been up to date to appropriate the worth of the inventory that Boeing’s ousted CEO forfeited. The worth would have been $14.6 million.
That is breaking information. Please test again for updates.