Re:Thousands of workers jobs cut as former boss walks away w...
by soapboxrocket on Monday February 03, 2020 @10:16AM
(#22224823)
I have two big issues here:
1) in your math you are assuming he took no money off the table in the 4 years before this point; that is just plain not true, he go bonuses every other year before 2019
2) I believe that profits/growth on a whole ate a trailing indicator, so his actual impact will be seen over the next couple of years; and if you look at 2019 as the first time in 22 years that the company posted a loss...
Muilenburg started as CEO in 2015 and ended in 2019. So that's a 4-year pay gap - seems like a lot now, right? It does - but then I look and see that the performance of Boeing was up 150%, earning $100,000,000,000 ($100 Billion) since he took over - which is $70 Billion over the average S&P gain would've been.
So, let's round-up $62.2m to $70m and use the $70B figure - He earned a 0.1% return of the stock value gain. (Almost half that if taking the other figures).
No idea what the actual contract was - but that seems entirely reasonable to me. Not to mention it was awarded in stock, so the value stays in the company anyhow; especially when I'm sure there's some sort of wait period or other limits on selling the shares.