PIRC, Pensions & Investment Research Consultant, a firm that advises pension funds and other institutional investors, recommended on Tuesday that Boeing investors oppose the re-election of Dennis A. Muilenburg as Chairman and CEO of the company.
PIRC said “There should be a clear division of responsibilities at the head of the company, between the running of the board and the executive responsibility for the running of the company’s business. No one individual should have unfettered powers of decision. Combining the two roles in one person represents a concentration of power that is potentially detrimental to board balance, effective debate, and board appraisal.”
following the crashes of two Boeing 737MAX aircraft to fix the problems and get the aircraft back in the air, the company’s stock performance under Muilenburg has shown spectacular gains, and even with the current problems has remained strong.
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