Boeing CEO Got $30 Million Last Year. Now, He Faces His Biggest Test

INSUBCONTINENT EXCLUSIVE:
Dennis Muilenburg's annual compensation of $23.4million was 184 times higher than employees median salaryDennis Muilenburg, Boeing's chief
executive officer, took home just over $30 million last year, a $6 million increase from the year before, according to a filing late Friday
with the Securities and Exchange Commission, as the company's business soared after another banner year.With revenues at a record high in
2018, breaking the $100 billion mark for the first time, Boeing's heavily incentivized compensation model was a boon for the 55-year-old
executive, whose base salary is $1.7 million
The company noted in the filing that Muilenburg's annual compensation of $23.4 million was 184 times higher than the median salary of
company's employees
(His total compensation included stock options from prior years that were paid out.)Now, after two harrowing crashes that killed a total of
246 people, Muilenburg faces one of the toughest tests of his 34-year career at the Chicago-based behemoth
Last week, Boeing's stock dropped after one of its 737 Max 8 airplanes crashed in Ethiopia, the second time in five months one of the planes
was involved in a deadly crash
In October, one of the planes went down in Indonesia, killing everyone on board.Muilenburg's compensation was first reported by the Seattle
Times.Countries around the world have grounded the aircraft, a major source of revenue for the company, which has more than 150,000
employees
Boeing has said that it has stopped delivering the 737s while it works on updating its flight-control system
Jeffries analyst Shelia Kahyaoglu said in a note that a two-month halt in deliveries could cost the company $5.1 billion this
year.Meanwhile, Congress has vowed to investigate the cause of the crashes
And families of at least two dozen crash victims are suing the company.Fighting to stem the fallout from the crashes, Muilenburg called
President Donald Trump on Tuesday, vowing that the planes were safe and that there was no reason to ground them
Eventually, the Federal Aviation decided to do so anyway
"The safety of the American people, and all our people, is our paramount concern," Trump said in explaining his decision.Still, analysts
have said the crisis is unlikely to have a long-term effect on the company's finances
Despite the crash in October last year, the company finished 2018 with record revenue that beat its goal, profit of $10 billion and a
healthy order book for future growth.In 2017, Boeing's stock climbed nearly 90 percent, and for the first two months this year, it was up
nearly 35 percent.In the SEC filing, Boeing's compensation model for its executives is "designed to drive near-term program execution,
operational excellence and sustainable growth." By those measures, Boeing's CEO had a banner year, the filing said."Mr
Muilenburg's leadership in successfully executing Boeing's business strategies in 2018, as evidenced by record operating cash flow, revenue,
operating earnings and commercial airplane deliveries," it said.(Except for the headline, this story has not been edited by
TheIndianSubcontinent staff and is published from a syndicated feed.)Get the latest election news, live updates and election schedule for
Lok Sabha Elections 2019 on TheIndianSubcontinent.com/elections
Like us on Facebook or follow us on Twitter and Instagram for updates from each of the 543 parliamentary seats for the 2019 Indian general
elections.