US Senate Hearing: Boeing CEO Gives Testimony

Boeing CEO Dave Calhoun appeared before the Senate Homeland Security and Governmental Affairs Subcommittee on Investigations in Washington, where he announced his plans to retire by the year-end. However, Senator Josh Hawley believed that this was not soon enough and questioned Calhoun about his substantial pay during the hearing. When asked about his salary, Calhoun responded that it was a “big number” and did not disclose further details.

Hawley highlighted that Boeing had reported a $32.8 million salary for Calhoun in 2023, a 45% increase over the previous year. Despite the lack of profits and declining stock prices during Calhoun’s tenure, the substantial pay raise raised concerns, according to Hawley. He directly asked Calhoun why he had not resigned, to which Calhoun stated that he was committed to seeing through his responsibilities and was proud of Boeing’s safety record and the efforts made by its employees.

In a testy exchange, Hawley expressed disbelief that Calhoun could be proud of Boeing’s safety record given the issues that had arisen during his time as CEO. Calhoun reiterated his pride in the actions taken by the company, prompting further skepticism from Hawley. The disagreement underscored the tension between Calhoun and the Senator regarding the company’s safety culture and leadership decisions.