DBEA55AED16C0C92252A6554BC1553B2 Clicky DBEA55AED16C0C92252A6554BC1553B2 Clicky
June 18, 2024
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Boeing’s Chairman and CEO was re-elected after a proposal to oust him as Chairman failed to win enough votes, as 34% of voters supported the proposal, which argued that an independent Chairman would be better suited to helping the board develop long-term strategy while allowing CEO Denis Muilenburg to focus on day-to-day operations.

Boeing’s Board of Directors recommended voting against the proposal.  Boeing’s last 13F filing indicated that the company has 69.96% institutional ownership, which means that some institutional investors voted in favor of the proposal, which wasn’t passed with the overwhelmingly margins that most proxy votes are when recommended by the board.  As a result, despite survival, a message has been sent by Wall St. to Mr. Muilenburg and Chicago through this vote.

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Ernest Arvai
President AirInsight Group LLC