New York state plans to use the weight of its pension fund to push for the firing and blocking of pay raises for three Boeing Co. executives following a series of corporate disasters.
State Comptroller Tom DiNapoli, who oversees the fund, voted against a shareholder proposal that argued Boeing’s corporate giant shouldn’t get raises because of its handling of safety issues with Boeing’s 737 Max 9 planes. I plan on throwing it.
“Boeing’s directors have failed to adequately oversee the company’s strategy, safety, and culture,” DiNapoli wrote on Thursday X. “We plan to vote against the three long-tenured directors and the proposed executive remuneration plan at our upcoming general meeting.”
Explanation of the decision posted in Auditor’s website In particular, he cited a horrific Alaska Airlines flight in January in which the door of a 737 Max jet was blown off, leaving several passengers with minor injuries.
The pension fund will also vote against the reappointment of Chairman and CEO Dave Calhoun and two other board members, Lynn Good and Robert Bradway.
Calhoun has already announced planning to resign At the end of the year.
“These changes are aimed at driving our overall performance towards achieving the stringent safety and quality targets set by our remuneration committee for 2024,” the company said in a statement to shareholders. stated in a lengthy statement.
DiNapoli frequently uses its more than $205 billion endowment to direct shareholder votes that align with environmental, social, and governance goals.
The comptroller is expected to instruct the fund to vote against some proposals submitted to Amazon, Tesla, Meta and Dollar General in the coming weeks.
