Senators Markey, Blumenthal, and Baldwin Blast Boeing Response to Their Request to Cancel CEO’s Bonus for Ungrounding the 737 MAX
737 MAX plane crashes killed 346 people, FAA still investigating, emails indicate that Boeing misled regulators and rushed a dangerously flawed plane into the sky
Washington (February 4, 2020) – Senators Edward J. Markey (D-Mass.), Richard Blumenthal (D-Conn.), and Tammy Baldwin (D-Wisc.) today blasted Boeing for its response to their request to cancel a $7 million bonus payment for its new CEO after the company filed a report last month that declared David L. Calhoun is eligible for the bonus if he returns the 737 MAX to service. In its response to the Senators, Boeing stated, “Though we understand and appreciate your concern, we believe tying our new CEO’s incentive-based compensation to key strategic objectives, including the safe return to service of the 737 MAX, is in the best interest of our company, our workforce, and the flying public.”
“Boeing’s response to our letter is completely inadequate,” said Senators Markey, Baldwin, and Blumenthal. “For Boeing to say simply ‘trust us’ and claim that a $7 million incentive payment somehow won’t affect the mindset of its new CEO just isn’t believable. We urge Boeing to show contrition in both its words and actions. If the company really wants to prove it has learned its lesson about prioritizing safety over profit, then it will cancel the proposed bonus immediately and make sure there is no financial incentive for its new CEO to rush the 737 MAX back into the sky.”
A copy of Boeing’s response to the Senators can be found HERE.