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.
Don’t let the door hit you on the—oh shit, the door!
In
Soviet RussiaAmerica, the door hits you on it’s way out.Don’t let the door hit you on the way out.
No, not that door- the one from your shitty plane flying overhead.
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.
Highly recommend the book ‘Flying Blind’ by Peter Robison on Boeing and the decline of its safety culture after the merger with McDonnell Douglas. That’s when the “business” types who ran the former company into the ground took over both and we see the same results here.
Before the merger, the engineers were in charge and safety was taken seriously. Now, it’s more about stock, etc.
Long ago the four nations lived in harmony. But everything changed when the business nation attacked. Only the regulations could stop them, but when the world needed them most, they vanished.
We should make a movie about this. The last regulator. The fans will love it
Cool. Now arrest him for criminal negligence.
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 administrators 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.
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.
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.
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’m gonna step down because I failed this clown car of a company…btw i’m keeping my golden parachute”
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.
Bring back the dude who married his first cousin!
https://www.ft.com/content/a8bfd0a3-2904-4b7e-a8e0-b5e04567c980
Now, I am a fan of this in general. I think unions should get a seat at the table.
