A video featuring former Boeing CEO Dave Calhoun being questioned by Sen. Josh Hawley (R-MO) is making the rounds again, sparking renewed outrage over executive pay at the troubled aerospace giant.
The clip shows Hawley confronting Calhoun during a 2024 Senate hearing about Boeing’s safety record and the sharp pay gap between top executives and front-line workers.
In the video, Hawley asks Calhoun, “What is it that you get paid currently?” Calhoun responds vaguely: “It’s a big number, sir.” Hawley then spells it out: “$32.8 million this year. Does that sound right?”
Calhoun confirms, “Yes, it does.”
Hawley continues, pointing out that Calhoun’s 2023 compensation was a 45% increase from the previous year. Meanwhile, the senator says 32,000 Boeing machinists in the Pacific Northwest received just 1% wage increases over eight years. “Do you think maybe these folks deserve a raise?” Hawley asks.
“Oh, they will definitely get a raise,” Calhoun responds.
“Good. Good. I hope it’s a substantial one,” Hawley replies.
“And I hope that maybe this will be an opportunity for Boeing under new leadership to reverse course and actually start making things again, start making things in this country again and start paying its people.”
$32.8 Million Pay Package Confirmed
The pay figures are accurate. According to Boeing’s filings, Calhoun earned $32.8 million in 2023, up from $22.6 million in 2022.
His compensation included a large stock award on top of a salary that exceeded $1 million.
He declined a $2.8 million cash bonus that year following a January mid-air incident where a door plug blew off a 737 Max jet, prompting investigations and renewed criticism of Boeing’s quality control.
737 Max Incident Raises More Questions
While Boeing trimmed losses in 2023 and enjoyed strong jet orders, the January safety failure marked another major setback for the company.
A federal investigation found the aircraft had left the factory missing four bolts meant to secure the door plug.
Calhoun publicly acknowledged the company was at fault.
“We caused the problem, and we understand that,” he told investors at the time. “Whatever conclusions are reached, Boeing is accountable for what happened.”
Workers Eventually Got a Raise After Historic Strike
In November 2024, Boeing machinists on the West Coast ended a seven-week strike by approving a new contract.
The agreement includes a 38% wage increase over four years, with average annual pay for machinists reaching $119,309 by the end of the contract.
The strike marked Boeing’s first in 16 years and brought production to a standstill.
The union had initially demanded a 40% raise and restoration of pension plans. While they didn’t regain pensions, the contract did improve 401(k) contributions and secured Boeing’s commitment to build its next aircraft in the Seattle area. https://www.assemblymag.com/articles/98892-boeing
Retirement Announcement and Massive Payout
In March 2024, Calhoun announced plans to retire by the end of the year.
He is set to walk away with an estimated $45 million in stock and options, on top of whatever he earns in 2025.
New CEO Looks to Steady the Ship
His successor, Kelly Ortberg, who took over in August 2024, has been working to stabilize the company.
At Boeing’s annual meeting in April, Ortberg said he was confident in the current leadership team but “won’t be shy” about bringing in new executives if needed.
Ortberg’s compensation target for 2025 is $22 million, less than Calhoun’s but still significantly above the average worker’s pay.
Public Reaction Keeps Growing
The viral clip has fueled online criticism of corporate pay structures, with many users calling out what they see as a growing divide between executive suites and the factory floor.
As post on X put it: “The CEO didn’t want to say the number! He knows it’s vulgar embarrassingly high!”