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Dave Calhoun Becomes Boeing's CEO

Boeing Co. (BA) said Monday that David Calhoun today assumed the role of president and chief executive officer of the company.

Calhoun would be eligible to receive an additional long-term incentive award valued at about $7 million which will be earned only upon continued employment and the achievement of several key business milestones, including full safe return to service of the 737 MAX.

Calhoun, 62, has served in various senior leadership roles within several large-scale enterprises including at the Blackstone Group, Nielsen Holdings and GE. He has served on the Boeing Board of Directors since 2009 and served as chairman from October 11 to December 22, 2019.

Former Boeing Chief Executive officer Dennis Muilenburg would not receive severance payments or a bonus for 2019. But, he has earned millions in retirement benefits and stock awards, including some valued at about $28.5 million as of December 31, the company disclosed in a regulatory filing on Friday.

Muilenburg, who spent more than 30 years at Boeing, was fired in December for the company's botched response to two crashes and failing to get the company's best-selling plane, the 737 Max jetliner back in the air.

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