s543
in service - 2 years
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Post by s543 on Dec 23, 2019 16:13:48 GMT 1
the day before Xmas eve .... wow .... Well they did replaced aeronautical engineer with an accountant ! What else can we expect from Boeing ! As always we will see - but at first sight it does not make any favorable impression (at me !)  |
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s543
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Post by s543 on Dec 23, 2019 16:14:38 GMT 1
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Baroque
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Post by Baroque on Dec 23, 2019 20:06:10 GMT 1
I myself question how much this will change the status quo at Boeing. They just removed the figurehead, merely the mouthpiece of the rest of the board and top brass. As long as these others remain, there will not be a significant cultural shift. Sure Muilenberg handled the MAX disaster badly, but I wouldn't bet on anyone else within Boeing doing anything different in his shoes. Their lawyers and accountants would make sure of that. I think the whole purpose of this firing, is to give the regulators and customers a new face to deal with when clearly they've fallen out of favour with Muilenberg. Meanwhile, McNerney is somewhere out there enjoying his retirement while Boeing continues to crumble as a result of the decisions made during his tenure. He should have been made accountable for some of this mess. |
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s543
in service - 2 years
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Post by s543 on Dec 23, 2019 22:15:38 GMT 1
My perception ...
Muilenburg behaved with the press and customers HORRIBLY. His presentations were BAD. But obviously all his public presentations were written by the layers, but if he would be a personality he would have behaved for outside completely differently. So what BO achieved with the way they did behaved - they pissed of everyone - the airlines, the flying public, the lawmakers, the regulators, their suppliers......
I completely agree with you. BO got what he was striving to do - if an engineering company spends much more on shares buyback than on R/D only disaster must come out of it.
And the new man is the top one from the party who started this disastrous doing - i.e. the main thing we must take care of is the share value......
So obviously BO has not yet changed itself - this is new face with old habits.
And the fundamental question comes : "Is an accountant the proper person to run a HUGE technological company ?"
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mtrunz
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Digital Aviation/Meteo Analyst
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Post by mtrunz on Dec 24, 2019 1:02:05 GMT 1
Not really a big news to be honest. It was eventually going to happen.
I actually don't really care about what Management does because it means literally nothing when it comes to bringing back the MAX. They can switch CEOs a thousand times from now until the MAX flies again and it still won't get it flying faster.
But for the future of the company they will need somebody else. Somebody who has no history with their controversy. Somebody who has a new vision and can bring innovation to the company. But we shall see.
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Baroque
in service - 2 years
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Post by Baroque on Dec 24, 2019 2:34:31 GMT 1
But for the future of the company they will need somebody else. Somebody who has no history with their controversy. Somebody who has a new vision and can bring innovation to the company. But we shall see. This is what Boeing needed to get out of its current state and rebuild its future. But unfortunately, replacing Muilenberg with Calhoun, a former GE executive gives me the impression that the board are heading back to the "old ways" of McNerney's era. Call me pessimistic but this does not sound like a positive change at Boeing. I hope to be proven wrong. |
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philidor
in service - 6 years
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Post by philidor on Dec 24, 2019 11:11:26 GMT 1
I suppose the timing is intended to help minimise press reactions. I expected this would happen after the MAX's return to flight. Is the move a positive sign that Boeing's board now expects the crisis will end soon ?
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mjoelnir
in service - 2 years
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Post by mjoelnir on Dec 24, 2019 11:43:50 GMT 1
The performance of Dennis Muilenburg since the first crash was dismal. But I think two things pushed it over the edge. The performance of the space flight, that error is hardly bearable, and the last spat with the FAA.
Muilenburg tried to pressure the FAA with again declaring dates for deliveries and RTS on the MAX and got officially blown off in front of the world.
IMO it is time for Boeing to stop to play chicken with the regulators.
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s543
in service - 2 years
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Post by s543 on Dec 24, 2019 12:10:45 GMT 1
IMO it is time for Boeing to stop to play chicken with the regulators. But this is very hard - the old habits do not die easily. They were used to the state where they did CONTROL the FAA..... And now it should be suddenly the other-way round ? |
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Post by peter on Dec 25, 2019 12:57:47 GMT 1
Ahhh, poor sod. Fortunately after 34 years at Boeing Muilenburg is entitled to a little retirement pension. Name and Benefits Layoff ($) Retirement ($) Disability ($) Death ($)
Dennis A. Muilenburg
Cash Severance 6,638,500 — — —
PBRSUs 10,665,914 10,665,914 10,665,914 10,665,914
RSUs/Career Shares 13,073,780 13,073,780 13,073,780 13,073,780
Performance Awards 6,293,767 6,293,767 6,293,767 6,293,767
MDSUs 2,391,015 2,391,015 2,391,015 2,391,015
Life Insurance Death Benefit — — — 5,100,000
Tax Preparation/
Planning Services 8,300 8,300 8,300 8,300
Outplacement Services 7,500 — — —
Source: UNITED STATES SECURITIES AND EXCHANGE COMMISSION |
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