mranikiBoeing CEO Dave Calhoun to step down in management shakeup amid safety crisis
YurkshireLadI wonder what his golden handshake (parachute? What’s the difference?) is, for screwing things up so badly?
Golden handshake is coming in, golden handcuffs to keep you there, and golden parachute for your exit.
DominusOfMegadeusOne golden anything please
Best I can do is a golden shower
Yummy!
Jeez, I just can’t win in this timeline
Careful what you wish for! 🤣
People need to remember that these only apply to high leadership. For us peons it usually is a Golden Shower.
Oh this can absolutely happen at the less luxurious positions. For instance, FAANG (the big 5 tech companies, if you don’t work tech like 3/4 of the Fediverse) can afford to pay salaries well above any other employers. We’re talking 200k-400k here, not obscene billionaire-class stuff. Once they grab you, they can treat you worse once you get adjusted to the salary that no one else can match. I’ve seen it happen to a lot of people who end up miserable until they leave and have to go through the readjustment period.
massive_bereavementThe issue in this instance was not screwing things well enough.
He’s gonna need a parachute if he flies home on one of his planes.
In this particular case a parachute is probably for the best
Nothing but a scapegoat if they replace him with another accountant instead of an engineer.
It doesn’t matter if the CEO was an engineer or not in a previous life. The job of a CEO doesn’t change and he did exactly what he was supposed to do: made shortsighted decisions that maximised profit and took the fall for it when the short-sightedness of those decisions blew up in their faces.
Until the merger, Boeing was engineer-driven. They were well known for safety first and design over cost.
www.cnn.com/2024/01/30/business/…/index.html
There are hundreds of articles on this topic and you rant without knowing the topic.
That doesn’t change what I said. He did exactly what all boards expect their CEOs to do nowadays. No board of directors expects their CEO to have actual product knowledge.
That isn’t true at all. Intel has a history of it, Boeing, Tesla, etc.
Many companies have a history of having a CEO who has product knowledge.
I’m not talking about history. I’m talking about the climate of capitalism in America right now
It’s some weird rant that Isn’t relevant or accurate. The comment was they need to hire an engineer. That’s what Boeing use to do. That’s what many successful companies do that make products.
Tesla 🤣
Bilb!Elon Musk is a brilliant inventor nonpareil. He invented tunnels, rockets, electric cars, and now Twitter.
By all credible accounts the systemic issues at Boeing predate this CEO by probably 2 decades. Dave Calhoun seems to specialize in “troubled companies”, i.e. he has never been anything more than a professional scape goat.
If it comes with golden parachutes it’s all but guaranteed he doesn’t care.
If I got millions of dollars every time a company went down in flames around me, I’d carry around a can of gas and matches.
He was CEO, he could have implemented policies to alleviate these issues. Instead he kept the status quo.
He belongs in jail, not another board room.
Didn’t he hold senior positions in Boeing much longer than he has been CEO?
You’re right, he was there since 2009, so he has probably been helping to design the cannibalization, but it certainly didn’t begin with him.
He was responsible for the figurative nosedive my boss’ previous company did. Now he’s responsible for the literal nosedive of Boeing.
This man is a professional company ruiner, not just a scape goat.
Calhoun’s MCAS might have been set incorrectly 👀
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.
Probably stepping down to sit on the board instead.
That’s not enough. We want investigations that bring consequences.
What we want, and what happens in reality, have absolutely no connection. Money is what makes the world go around. Money is the only thing that matters to our society.
No, it’s the only thing that matters to our current leadership. That can be changed. Either by changing their minds, or by removing and replacing them.
Lol, who chose Biden VS trump, the American people? Please.
Oh I’m not assuming the system isn’t owned by the rich. But the people in power can still be removed and replaced, even if the methods in place aren’t setup for it. The French are pretty good at it, for example.
Americans don’t have the balls Imo, the French are unique in their relationship to the owner class.
ripcordYou definitely don’t appear to.
You know a lot about balls?
Lol
When are we going to change that? It’s been a while, like 600BC, but we managed just fine for tens of thousands of years before minted coin.
Unfortunately, we aren’t.
Just wanted to say your edit is awesome ✊
Bring back the dude who married his first cousin!
Rudy Giuliani?
Don’t let the door hit you on the—oh shit, the door!
In Soviet Russia America, the door hits you on it’s out.
Don’t let the door hit you on the way out.
No, not that door- the one from your shitty plane flying overhead.
KNovaCulture change takes a while; I feel like even if they replaced everyone at the top with safety minded engineers to run the company, it would be some time before they dig themselves out of the hole they created for themselves.
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.
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.
JesusSo 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.
JodeAre we all forgetting that Boeing most likely had a witness testifying them executed in a parking lot a few weeks ago?
You a word, there.
John Barnett didn’t kill himself and they’re doing a damn good job of sweeping it under the rug.
ft.com/…/a8bfd0a3-2904-4b7e-a8e0-b5e04567c980
Now, I am a fan of this in general. I think unions should get a seat at the table.
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.