8 million in total compensation for the year 2023. This news comes at a time when the aircraft manufacturer has been facing significant safety issues, raising concerns among stakeholders and industry experts.

According to a regulatory filing by Boeing, Calhoun's salary accounted for $1.4 million of his total compensation, while he received $30.2 million in stock awards and $1.2 million as other compensation. The CEO's compensation package marks a notable increase of nearly 45% from the previous year when he earned $22.6 million.

It should be noted that Boeing's stock has witnessed a decline of 27.3% year-to-date, primarily due to the safety incident that occurred in January. During that incident, a door plug panel detached from an Alaska Airlines plane, manufactured by Boeing, shortly after takeoff. This incident has drawn attention to the company's safety protocols and raised questions about its manufacturing practices.

However, the high compensation received by Calhoun is contrasted by the departure of former commercial Airlines division CEO, Stanley A Deal. Although Deal's compensation rose from $8.8 million in 2022 to $12.5 million in 2023, he no longer holds the executive position.

In response to the news of Calhoun's substantial compensation, Elon Musk, the CEO of Tesla and SpaceX, took to social media to express his surprise. Known for his cryptic posts and strong opinions, Musk simply tweeted an exclamation mark, possibly indicating his astonishment at the significant payment.

This development comes amidst Boeing's restructuring efforts, as the company announced in late March that Calhoun would step down by the end of the year. Additionally, Stephanie Pope has been appointed as the new head of Boeing's commercial airplanes division, replacing Deal. These changes in leadership have been made in response to falling stock value and increased regulatory scrutiny faced by the aerospace giant.

It is worth noting that while Boeing is primarily recognized as a commercial airplane manufacturer, the company also operates a business unit involved in making spacecraft, which poses a direct competition to Musk's SpaceX.

As stakeholders continue to voice concerns about Boeing's safety record and the company grapples with leadership changes, the lavish compensation received by Calhoun raises questions about the company's priorities and stewardship. The compensation package, coupled with ongoing safety challenges, suggests that Boeing needs to address its security woes and restore confidence among stakeholders in order to regain stability in the aerospace industry.