Boeing’s Message Is Clear: We Will Pay An Ex-CEO As Much As $60 Million But Fight Loyal Workers Organizing For Better Pay

Boeing has an ugly history of union-busting in South Carolina, working feverishly to squash organizing activity by employees trying to earn a fair wage.

But the company seems to have little problem with setting up a compensation package that could net a fired CEO as much as $60 million,.

CNN Business reports:

“Boeing’s ousted CEO Dennis Muilenburg left behind a long list of problems at Boeing, but he’s walking away with a sizable golden parachute.

The exact amount of money that he will leave with isn’t yet clear. That will depend on his negotiations with Boeing (BA), including how the company labels his departure — for example, was it a retirement? A resignation? A layoff?

But public filings show Muilenburg could be entitled to a benefit plan worth more than $30 million and, potentially, a severance payment of about $7 million. Muilenburg also has another $20 million-plus worth of vested stock and a pension package totaling more than $11 million.

Muilenburg, 55, became CEO of Boeing, the world’s largest aerospace company, in 2015 after serving in several other executive roles, including chief operating officer and CEO of its defense space and security division, throughout his 34-year tenure at the company at Boeing.

His exit from the company comes with Boeing mired in setbacks and scandals, including two fatal crashes and numerous issues with its 737 Max airplane. Boeing has struggled to get the plane, its most important product, back in the air.”

For the rest of the story, visit CNN Business here.

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