Robert Besser
13 Mar 2025, 15:07 GMT+10
SEATTLE, Washington: Boeing has revamped its employee incentive plan, tying annual bonuses for more than 100,000 workers to overall company-wide performance rather than individual business units.
The change, outlined in Boeing's 2025 proxy statement filed with the U.S. Securities and Exchange Commission late last week, reflects a shift in the company's approach to financial and operational accountability.
Under the new structure, 80 percent of bonuses will be based on Boeing's financial performance, while the remaining 20 percent will depend on improvements in safety, quality, and program execution.
The decision comes just days after CEO Kelly Ortberg emphasized the need for Boeing's various business units to work together, citing employee feedback that he expects will be "brutal to leadership."
Ortberg's total compensation for 2024 amounted to US$18.4 million, including a $1.2 million signing bonus, a $525,000 salary since joining in August, and $313,000 in relocation assistance to move to Seattle. The majority of his compensation came in the form of equity grants.
Former CEO Dave Calhoun, who left Boeing following a mid-air panel blowout incident involving a 737 MAX, received a total compensation of $15 million. The incident exposed serious quality control issues within the company.
Get a daily dose of Beijing Bulletin news through our daily email, its complimentary and keeps you fully up to date with world and business news as well.
Publish news of your business, community or sports group, personnel appointments, major event and more by submitting a news release to Beijing Bulletin.
More InformationThiruvananthapuram (Kerala) [India], March 13 (ANI): BJP leader Rajeev Chandrasekhar on Thursday criticised leader Jairam Ramesh's...
New Delhi [India], March 13 (ANI): Congress General Secretary Jairam Ramesh took to X (formerly Twitter) to voice his concerns on the...
Humanoid robots are trained to swing their arms at the Zhejiang humanoid robot innovation center in Ningbo, east China's Zhejiang Province,...
Florida [US], March 13 (ANI): NASA and SpaceX on Wednesday scrubbed the launch attempt of the agency's Crew-10 mission to the International...
The mission was canceled less than an hour before launch due to a reported hydraulics issue with the launchpad SpaceX has aborted...
The mission was called off less than an hour before launch due to a reported hydraulics issue with the launchpad ...
SEATTLE, Washington: Boeing has revamped its employee incentive plan, tying annual bonuses for more than 100,000 workers to overall...
WINNIPEG, Manitoba: Farmers in the U.S. and Canada are bracing for soaring fertilizer prices as trade tensions escalate between the...
NEW YORK, New York - A slightly lower-than-expected CPI reading for February helped U.S. stocks to stabilize after some relentless...
NEW YORK CITY, New York: New York's office market is showing signs of a comeback as major investors, including Blackstone, scout for...
NICOSIA, Cyprus: Cyprus' ancient Commandaria wine, praised for its rich heritage dating back nearly 3,000 years, is making a comeback...
SAN FRANCISCO, California: Shares of DoorDash, Williams-Sonoma, Expand Energy, and TKO Group surged in extended trading on March 7...