New Boeing CEO Receives Lucrative Incentive Package

Kelly Ortberg, the new CEO of Boeing, will receive a long-term incentive award worth $17.5 million. Starting August 8, Ortberg will also have a base salary of $1.5 million, along with additional incentives and stock options potentially worth up to $16 million over four years.

Kelly Ortberg, newly appointed CEO and president of Boeing, will be awarded a long-term incentive package valued at $17.5 million, according to an announcement by the planemaker on Wednesday.

Ortberg, 64, will begin his new role on August 8. Alongside the incentive package, he will receive an annual base salary of $1.5 million, an annual incentive award target of $3 million, and a $1.25 million cash payment in December.

Additionally, Ortberg will be eligible for up to $16 million in restricted stock and performance awards, which will vest over a period of four years.