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Business Briefing / Compensation

Boeing's CEO gets $14.8 million

March 14, 2009|TIMES WIRE REPORTS

Boeing Co. Chief Executive Jim McNerney received compensation valued at $14.8 million in 2008, up 14% from the previous year, according to an Associated Press calculation of figures disclosed in a regulatory filing. But some of the compensation came in stock options that have declined in value.

McNerney received $1.9 million in base salary, according to a proxy statement filed with the Securities and Exchange Commission.

He received performance-related bonuses that totaled $6.1 million. About 40% of McNerney's compensation was in the form of stock and stock options, valued by Boeing at $5.9 million when they were granted. But that amount came from stock options granted in February 2008, when the Chicago company's stock traded at $84.66. Boeing's shares fell 23 cents Friday to $33.40.

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