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Boeing CEO Dave Calhoun is poised to leave his post at the end of the year with a massive payout — despite a failed tenure capped by the Alaska Airlines door blowout that has devastated the company’s reputation.

The top executive at the embattled aerospace giant — which was already recovering from a pair of deadly 737 Max crashes when Calhoun took the top job in 2020 — will leave with $24 million in his pocket despite the fact that Boeing’s stock price is 43% lower compared to the day he took over as CEO.

If Calhoun’s successor manages to boost the firm’s share price by 37%, he would make an additional $45.5 million, according to a report.

An analysis of SEC filings showed that Calhoun holds 175,435 options whose exercise price is lower than the price of the company’s stock, according to Fortune.

Calhoun also holds 107,195 options that are priced at $258.83 a share and which expire in February 2031 and 68,240 options priced at $260.98 a share which expire in February 2032, according to Ben Silverman, vice president of research at Verity, a firm specializing in stock sales analysis.

As of Tuesday, Boeing’s stock price hovered around $188 a share.

That means Calhoun’s successor needs to turn the company’s fortunes around and get the stock price up by 37% so that he can cash out his options and walk away with $45.5 million.

If Calhoun’s exit is seen as a retirement, he would be entitled to a $5 million payout based on a portion of restricted stock that would vest, according to Silverman.

Boeing has declined to comment.

When Calhoun took over as CEO in January 2020, Boeing’s stock was priced at around $330 a share.

From 2020 through 2022, Calhoun earned $65 million in compensation, according to the company’s annual proxy statements filed with the Securities and Exchange Commission.

The company’s 2024 proxy statement hasn’t been made available as of Tuesday.

Calhoun’s compensation during his tenure is considered higher than companies that are considered Boeing’s competitors and peers, including Ford, 3M, Caterpillar and Microsoft.

According to Barron’s, CEOs of Boeing’s peer companies earned an average compensation of $25 million last year — this despite the fact that the stock prices of those companies have gained a little more than 13% a year over the course of the past five years.

In contrast, Boeing’s stock price has fallen by 50% during that five-year stretch, or around 12% on average.

Calhoun said Monday he will step down at the end of the year amid a wider shakeup that also includes the companys chairman, Larry Kellner, and Stan Deal.

Kellner will step down from the board of directors in May while Deal, president and CEO of Boeing Commercial Airplanes, is resigning effective immediately.

Steve Mollenkopf, former CEO of tech giant Qualcomm, will be Boeings new board chairman, succeeding Kellner. He will oversee the search for Calhoun’s successor.

On Jan. 5, the rear door plug of a Boeing 737 Max 9 passenger plane operated by Alaska Airlines came loose in mid-flight resulting in the FAA ordering the grounding of the same model of aircraft for weeks.

Calhoun who fought back tears while acknowledging our mistake that caused the blowout at 16,000 feet and led to an emergency landing reportedly encouraged airline CEOs to meet with the company’s board to air their frustrations over Boeing’s production problems.

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World

Zelenskyy demands ‘clear position’ from Trump on ending war

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Zelenskyy demands 'clear position' from Trump on ending war

Volodymyr Zelenskyy has called for a “clear position” from Donald Trump to stop Vladimir Putin and end the war in Ukraine.

In an exclusive interview with Sky News’ lead world presenter Yalda Hakim, the Ukrainian president said the only way for the fighting to stop was for defined security guarantees to first be put in place.

And that, he said, could only come if Mr Trump was bold.

He told Sky News he hopes UK Prime Minister Sir Keir Starmer would drill into the detail of securing Ukraine’s future with the president during his state visit to Britain this week.

He said: “I very much hope he (Starmer) will be able to have a very specific discussion on the security guarantees of the US for Ukraine.

“Before we end the war, I really want to have all the agreements in place. I want to… have a document that is supported by the US and all European partners. This is very important.

“To make this happen, we need a clear position of President Trump.”

Zelenskyy and Trump have endured a sometimes testy relationship. Pic: Reuters
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Zelenskyy and Trump have endured a sometimes testy relationship. Pic: Reuters

‘Make Putin afraid’

Mr Zelenskyy also urged the US leader to take “strong personal steps” to “stop Putin”, after Mr Trump urged NATO allies to stop buying Russian oil and put tariffs on China to pressure Moscow.

“I believe that the US is strong enough to take decisions of their own,” he said. “I believe Donald Trump can give us air defence systems in quantity and US has enough.

“I’m sure the US can apply enough sanctions in order to hurt the Russian economy, plus Donald Trump has enough force to make Putin afraid of him.

“Europe has already introduced 18 sanctions packages against Russia. And all that’s lacking now is a strong sanctions package from the US.”

Read more from Sky News:
Moscow trying to send a message with military drills
Russia’s war rehearsals offer NATO one thing

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Russia rehearses for war

His comments came following criticism in his interview with Sky News – at the Presidential Palace in Kyiv – of the recent Trump-Putin summit in Alaska.

He said Mr Trump “gave a lot to Putin” and that “he should have paid more” for it.

“I believe, if it was a trilateral meeting [with Ukraine included], we would have some result,” he added.

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Sky News exclusive interview with Zelenskyy

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Putin ‘testing NATO’, warns Zelenskyy

As news broke that British fighter jets were flying air defence missions over Poland after a Russian drone incursion, Hakim asked the Ukrainian leader what message he thought Putin was sending to Europeans.

“He’s testing NATO,” he said. “He wants to see what NATO is ready for, what they’re capable of, both diplomatically and politically, and how the local population will respond to this.”

“Also, in my opinion, the other message they are sending is, ‘don’t you dare to give Ukraine additional air defence systems, because you might need them yourself.'”

Bristling with frustration – Zelenskyy’s message is clear


Yalda Hakim

Yalda Hakim

Lead world news presenter

@SkyYaldaHakim

Ukraine’s president has a very clear message for Trump – you alone have the power to stop Putin, and the time to act is now.

Meeting with me in Kyiv on the eve of the US president’s state visit to Britain, Zelenskyy bristled with frustration at the failure of the Western powers to ramp up pressure on the Kremlin, even as the Russians escalated their attacks on Ukraine.

Asked if the summit between Trump and Putin in Alaska has proven a mistake, he responded without hesitation that Putin is clearly not paying a price for his actions.

Zelenskyy believes Trump is reluctant to put pressure on Putin because it might jeopardise attempts to end the war.

But the Ukrainian leader argues this isn’t the way to handle the Russian president.

Zelenskyy also argued Trump’s emphasis on getting the Europeans to ratchet up economic pressure – foremost by stopping their purchases of Russian energy and tariffing other buyers like China and India – was understandable, but that the world’s sole superpower shouldn’t wait for others to act.

Trump has called on EU countries to end all Russian oil and gas purchases – and only then will he consider imposing sanctions on Russia.

Mr Trump arrives in the UK today for an unprecedented second state visit, following an invitation from King Charles.

He and First Lady Melania will stay at Windsor Castle and be treated to a flypast by the Red Arrows as well as UK and US F-35 military jets on the east lawn, and a special Beating Retreat military ceremony.

They will also visit Chequers, the prime minister’s official country residence in Buckinghamshire, though details of what they will discuss – and whether it will include the situation in Ukraine – have not been revealed.

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Sports

Astros’ Alvarez sprains ankle crossing home plate

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Astros' Alvarez sprains ankle crossing home plate

HOUSTON — Astros All-Star left fielder Yordan Alvarez left Monday’s 6-3 win against the Texas Rangers because of a sprained left ankle.

Alvarez appeared to slip as he crossed the plate in the first inning, scoring from first base on a throwing error by Rangers pitcher Jack Leiter on Carlos Correa‘s infield single. Alvarez was tended to by a trainer outside the Astros’ dugout and then helped down the steps.

Zachary Cole entered the game in right field in the second inning, with Jesus Sanchez moving to left.

The team announced the injury a couple of innings after Alvarez left the game.

Alvarez entered Monday’s game batting .273 with six home runs and 27 RBIs but has been limited to 47 games because of a fractured right hand that forced him to sit out 101 games.

The Astros hold a three-game lead over the Rangers for the American League’s final wild-card spot.

The Associated Press contributed to this report.

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UK

PM ‘angry’ over Mandelson scandal – as emergency debate set to ramp up pressure

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PM 'angry' over Mandelson scandal - as emergency debate set to ramp up pressure

An emergency debate will take place in parliament today over Sir Keir Starmer’s controversial appointment of Peter Mandelson as his ambassador to the US.

Speaker Lindsay Hoyle has agreed to allot three hours for questions about what the government, and particular the prime minister, knew and didn’t know about the depth of Lord Mandelson’s relationship with billionaire paedophile Jeffrey Epstein.

Lord Mandelson was appointed in January 2025 to the UK’s most senior overseas diplomatic position – the ambassador to the US.

He had always admitted to having known Epstein, but last week the US Congress unveiled the contents of a 50th “birthday book” which revealed a much closer relationship.

Among the tributes to Epstein in it, Lord Mandelson had described him as “my best pal”.

A picture of Epstein and Mandelson together in the 'birthday book' released by the US Congress. Pics: US House Oversight Committee
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A picture of Epstein and Mandelson together in the ‘birthday book’ released by the US Congress. Pics: US House Oversight Committee

Then, emails published by The Sun and Bloomberg were even more damning, showing the former Labour minister sympathising with the convicted sex trafficker, saying: “I think the world of you and I feel hopeless and furious about what has happened.”

Lord Mandelson was removed from his ambassadorial post on Thursday, but not before Sir Keir had defended him at PMQs the day before. He has come under fire over his handling of the issue.

I’m ‘angry’, says PM

On Monday, in his first remarks about the sacking, the embattled prime minister – who earlier this month lost his deputy Angela Rayner to a tax affairs scandal – insisted he would have “never appointed” Lord Mandelson if he’d known then what he knows now.

He told Channel 4 News he was “angry” to have ended up in a situation where he pivoted from defending him to sacking him within 24 hours, suggesting he was unaware of the “detailed allegations” before PMQs.

But questions remain about what exactly the PM – or the vetting team – knew, and the government has declined to release the details of the procedure Lord Mandelson underwent before he was appointed.

The Conservatives hope to use today’s emergency debate to increase pressure on the government to publish all the information – just hours before Donald Trump lands in the UK for a state visit.

The US president is himself embroiled in questions about his own relationship with the disgraced billionaire.

Analysis: No state visit has had a backdrop quite like this

Commons Speaker Sir Lindsay Hoyle has granted the emergency debate. Pic: PA
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Commons Speaker Sir Lindsay Hoyle has granted the emergency debate. Pic: PA

Sir Keir was also hit by the resignation of Number 10’s director of strategy, Paul Ovenden, on Monday. He quit after it emerged he’d sent sexually explicit messages about independent MP Diane Abbott.

It’s all added up to a rotten start to the new parliamentary term for the prime minister, who just two weeks ago confidently declared “phase two” of his government was now under way.

He’s ruled out resigning, despite discontent on his backbenches and Reform UK’s sustained lead in the polls.

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Former PM Gordon Brown rallied to Sir Keir’s defence

But former prime minister Gordon Brown has come to Sir Keir’s defence.

Speaking to Sky News, he said he expected the PM to be “completely exonerated” over the Mandelson scandal.

Mr Brown, the last Labour PM before Sir Keir, said he didn’t want to criticise his judgement because he faces “very difficult decisions”.

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