Ousted Boeing boss exits with $62 million payout
Boeing has revealed that former CEO Dennis Muilenburg, who was fired last month, will depart with stock and pension awards totaling $62.2 million. Muilenburg was ousted after he was unable to stabilize Boeing following two crashes involving the company's popular 737 Max jet that killed a combined 346 people. The fallout from the crashes led to a worldwide grounding of the 737 Max and a series of regulatory and financial crises for the company. Boeing has suspended production of the planes.
■Class discussion: The 737 Max mess is estimated to have cost Boeing, airlines and investors billions of dollars and led to thousands of worker layoffs. Are you surprised that Boeing’s former boss is walking away with $62.2 million? Why do CEOs of America’s biggest corporations get paid 361 times as much as the average worker in their companies? Are they worth it? Why or why not? Can you find any examples of executives walking away from bankrupt companies with large payouts?