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Boeing deputies' pay on par with ex-CEO's; Salaries, bonuses, incentives similar to Stonecipher's in 2004.(News)(Harry Stonecipher)
Crain's Chicago Business, March, 2005 by Johnsson, Julie
Byline: JULIE JOHNSSON Two senior deputies to ex-Boeing Co. CEO Harry Stonecipher took home about the same in pay and incentives in 2004 as their former boss: $4.8 million apiece. James Albaugh, 54, and Alan Mulally, 59, are among a handful of executives vying to succeed Mr. Stonecipher, 68, who was forced to resign as CEO earlier this month over an extramarital affair.
Unlike Mr. Stonecipher, they also reaped multimillion-dollar payouts under an incentive program that showers stock on executives if its price clears certain hurdles during a five-year period. Since Mr. Stonecipher came out of retirement to head Boeing in December 2003, he wasn't eligible for the 2004 payout. Mr. Albaugh, executive vice-president of Boeing's $30.47-billion defense...
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