Culture change takes a while; I feel like even if they replaced everyone at the top with safety minded engineers to run the company, it would be some time before they dig themselves out of the hole they created for themselves.
So what about his seat on the board and what about the Director of the board, Bradway?
At the end of the day, it’s the board that’s signing off on the high level strategy. They need to be held accountable too. The CEO isn’t the top of the pyramid. The board is.
Thank you! Folks around here are always baggin’ on CEOs like they’re the top dogs. Nope. The Board often orders them to do stupid shit, and sometimes they’re brought on to do stupid shit. Hence the golden parachute thing. Damn straight I want paid if you fire me for doing what I was told.
Just going to state the obvious here: Boards of directors of large public company should have a % of the board elected by company workers and another % appointed by elected politicians. The problem here is corporate boards entirely run by investors.
Bring back the dude who married his first cousin!
Rudy Giuliani?
Not good enough, I want more than just a change of leadership. I want federal oversight at every Boeing Facility. I want the FAA to have a new office funded by Washington to scrutinize this company. I want Boeing Employees purged from the FAA.
Funded by Washington who get the money from higher taxes on these fucks
Can’t wait to see his golden parachute
“I’m gonna step down because I failed this clown car of a company…btw i’m keeping my golden parachute”
He should required to be up there to answer questions from congress and the Feds.
Don’t be silly. He’ll commit suicide with two shots to the back of the head before that happens.
I wonder what his golden handshake (parachute? What’s the difference?) is, for screwing things up so badly?
He’s gonna need a parachute if he flies home on one of his planes.
In this particular case a parachute is probably for the best
Golden handshake is coming in, golden handcuffs to keep you there, and golden parachute for your exit.
People need to remember that these only apply to high leadership. For us peons it usually is a Golden Shower.
Oh this can absolutely happen at the less luxurious positions. For instance, FAANG (the big 5 tech companies, if you don’t work tech like 3/4 of the Fediverse) can afford to pay salaries well above any other employers. We’re talking 200k-400k here, not obscene billionaire-class stuff. Once they grab you, they can treat you worse once you get adjusted to the salary that no one else can match. I’ve seen it happen to a lot of people who end up miserable until they leave and have to go through the readjustment period.
One golden anything please
Best I can do is a golden shower
Yummy!
Jeez, I just can’t win in this timeline
Careful what you wish for! 🤣
The issue in this instance was not screwing things well enough.
Nothing but a scapegoat if they replace him with another accountant instead of an engineer.
They need to get back to the engineering mindset. This is why I think CEO bonuses on things like EPS are BS. It should be tied to things like engineering, safety, etc.
It should be something that must be returned if there’s a severe fuckup within five years or something. Also they shouldn’t be getting bonuses, they are already massively overpaid.
For most CEO, Bonuses and stock options are the bulk of their pay.
I have no issues with either or even their pay, but I have no issues with regulations around it since they are public companies. I do have issues with a product that should be safe with any bonus tied to profitability. It should be tied to safety.
I think they’re more in a “hire a hit man to kill whistleblowers” mindset. Not the sort to suddenly turn about and become engineering do-gooders.
It doesn’t matter if the CEO was an engineer or not in a previous life. The job of a CEO doesn’t change and he did exactly what he was supposed to do: made shortsighted decisions that maximised profit and took the fall for it when the short-sightedness of those decisions blew up in their faces.
Until the merger, Boeing was engineer-driven. They were well known for safety first and design over cost.
https://www.cnn.com/2024/01/30/business/boeing-history-of-problems/index.html
There are hundreds of articles on this topic and you rant without knowing the topic.
That doesn’t change what I said. He did exactly what all boards expect their CEOs to do nowadays. No board of directors expects their CEO to have actual product knowledge.
That isn’t true at all. Intel has a history of it, Boeing, Tesla, etc.
Many companies have a history of having a CEO who has product knowledge.
I’m not talking about history. I’m talking about the climate of capitalism in America right now
It’s some weird rant that Isn’t relevant or accurate. The comment was they need to hire an engineer. That’s what Boeing use to do. That’s what many successful companies do that make products.
Tesla 🤣
Elon Musk is a brilliant inventor nonpareil. He invented tunnels, rockets, electric cars, and now Twitter.
By all credible accounts the systemic issues at Boeing predate this CEO by probably 2 decades. Dave Calhoun seems to specialize in “troubled companies”, i.e. he has never been anything more than a professional scape goat.
Didn’t he hold senior positions in Boeing much longer than he has been CEO?
You’re right, he was there since 2009, so he has probably been helping to design the cannibalization, but it certainly didn’t begin with him.
If it comes with golden parachutes it’s all but guaranteed he doesn’t care.
If I got millions of dollars every time a company went down in flames around me, I’d carry around a can of gas and matches.
He was CEO, he could have implemented policies to alleviate these issues. Instead he kept the status quo.
He belongs in jail, not another board room.
He was responsible for the figurative nosedive my boss’ previous company did. Now he’s responsible for the literal nosedive of Boeing.
This man is a professional company ruiner, not just a scape goat.
Calhoun’s MCAS might have been set incorrectly 👀
Probably stepping down to sit on the board instead.
The shareholders get their fall guy, cool, but what about the entire leaderships criminal negligence? Because you can’t convince me that the CEO was single-handedly making the call to cut corners.
He was the guy not putting the bolts in. Boeing is actually a pretty small shop
/s
When you have financial engineers overriding the decisions of mechanical engineers, you get crashy airplanes and eventually, caught up murdering people that might talk to investigators in order to defend those juicy profits
…sort of like how when accountants and insurance folk and lawyers and judges override the decisions of doctors and nurses, you end up with highly profitable hospitals and people dying for it
…all a bit like when the bean counters run your software company, layoffs designed to boost stock price by showing investors ‘fiscal discipline’ leaves your engineering teams shorthanded and forces them to de-prioritize bug fixes and dealing with technical debt and rigorous testing and you end up shipping lots of bugs when you release your product
Don’t blame accountants. They don’t make any decisions, and they don’t have the technical expertise to know what is dangerous.
The CEO is a good start. I bet the COO and head of engineering are also at fault. People signed off on these planes without doing the required installation of the door. If it’s a systemic issue, the quality control team is to blame.
Aviation is a regulated industry, right? I expect the FAA to get to the bottom, if not lawsuits.
Cool. Now arrest him for criminal negligence.
I’m just flabbergasted it took this long. It’s COMICALLY obvious that this is the result of a decades-long legacy of technical leadership failures and safety-incompatible profit fixation.
How many millions fat will his golden parachute be for sending hundreds of passengers to death?
15 million in stocks that vest in 3 years plus his 1.4 million in base salary plus plus his 22 million in stock, which has admittedly taken a beating as of late.
Nice payout for a complete failure on the job.
