Ousted Boeing CEO Dennis Muilenburg to receive $60m in stock and pension

Boeing’s CE, Dennis Muilenburg, ousted amid the worst crisis in the company’s history, will depart with stock and pension awards worth more than $60m, the company announced on Friday. Muilenberg, 56, will forfeit stock worth $14.6m, according to Boeing, but is contractually entitled to receive $62.2m in stock and pension awards. “We thank Dennis for his nearly 35 years of service to the Boeing Company,” the company said. “Upon his departure, Dennis received the benefits to which he was contractually entitled and he did not receive any severance pay or a 2019 annual bonus.” Muilenberg presided over Boeing as two of its top-selling 737 Max jets crashed, killing 346 people. The disasters led to a global grounding for the jet and criticism of the company’s cosy relationship with its regulator, the FAA. On Thursday Boeing released emails to a congressional committee investigating the tragedies in which its own executives mocked the regulator, joked about safety and said the Max had been “designed by clowns”. Muilenberg was appointed CEO of Boeing in July 2015. He started working as an intern at the company in 1985.<br/>