Summary
Boeing announced a significant leadership change in its finance department, with Executive Vice President and CFO Gregory D. Smith retiring effective July 9, 2021. Brian J. West has been elected as the new Executive Vice President and Chief Financial Officer, effective August 27, 2021. In the interim, David A. Dohnalek, currently Senior Vice President and Treasurer, will serve as Interim CFO from July 9, 2021, until Mr. West's effective date. Mr. West brings extensive financial leadership experience from various prominent companies, including Refinitiv, Oscar Insurance Corporation, Nielsen Holdings plc, and GE Aviation. His compensation package reflects his new role, including a substantial base salary, annual and long-term incentive awards, a sign-on bonus, restricted stock units (RSUs), and a premium-priced stock option, all designed to align his interests with the company's performance and shareholder value. This transition in financial leadership is a key event for investors to monitor as Boeing navigates its current operational and financial landscape.
Key Highlights
- 1Gregory D. Smith, EVP and CFO, is retiring effective July 9, 2021.
- 2Brian J. West appointed as the new EVP and CFO, effective August 27, 2021.
- 3David A. Dohnalek named Interim CFO from July 9, 2021, to August 27, 2021.
- 4Brian J. West has a strong financial background, including previous roles at Refinitiv, Nielsen, and GE Aviation.
- 5Mr. West's compensation includes a $1,000,000 base salary, significant annual and long-term incentive targets, a $750,000 sign-on bonus, $3,000,000 in RSUs, and a $3,000,000 stock option award.
- 6The stock option granted to Mr. West is premium-priced and vests over three years.
- 7David A. Dohnalek has served in various senior finance roles at Boeing since 2002.