Boeing CEO forgoes $3.6 million in bonuses, but gets $21 million in total pay as Covid-19 roiled business

Dave Calhoun, Chairman of Boeing

Adam Jeffery | CNBC

Boeing CEO Dave Calhoun didn’t take most of his salary for 2020 or bonuses worth $3.6 million altogether, but he was still awarded more than $21 million in total compensation as Covid-19 devastated the aviation business last year, the company said Friday.

Calhoun became CEO in January 2020 after the board ousted the former chief executive Dennis Muilenburg over two deadly crashes of the Boeing 737 Max. Calhoun’s appointment came just before the Covid-19 pandemic shook the global economy, hitting the aviation industry especially hard. Boeing reported a record annual loss for last year of nearly $12 billion as cancellations outpaced new sales of jetliners, prompting thousands of job cuts.

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