Summary Five Spirit AeroSystems executives, including Patrick Shanahan, the CEO of the company, will receive substantial severance bonuses, known as a 'golden parachute.' The bonuses were related to Boeing's proposed acquisition of Spirit AeroSystems. However, the merger must be approved by the latter's shareholders and regulators across the globe.
The chief executive of Spirit AeroSystems, which should merge with Boeing if the former’s shareholders and regulators approve the transaction, should receive a substantial severance bonus, also known as a ‘golden parachute.’ Spirit AeroSystems executives' bonuses According to a filing that Boeing published with the United States Securities and Exchange Commission (SEC) on August 12, Patrick Shanahan, the president and chief executive officer (CEO) of Spirit AeroSystems, should receive a severance bonus of over $28.5 million if the merger between the two companies goes through.
In total, five Spirit AeroSystems executives, including Shanahan, should get ‘golden parachutes,’ the filing detailed. Executive Role Total bonus package Patrick Shanahan President and CEO $28.5 million Irene Esteves Executive vice president and chief financial officer (CFO) $7.
8 million Scott McLarty Senior vice president of Airbus & Regional/Business Jets programs $3.4 million (assumed exchange rate of $1.27390 to £1) William Brown Senior vice president of Global Quality $2.
4 million Duane Hawkins Recently retired as President of Defense & Space .