Congressman Steve Cohen (TN-09), a senior member of the Transportation and Infrastructure Committee and its Subcommittee on Aviation, today applauded the $1 million fine assessed by the Securities and Exchange Commission (SEC) against former Boeing CEO Dennis Muilenburg for misleading investors after two crashes of the 737 Max airliner in Indonesia and Ethiopia that together killed 346 people.
Cohen called for Muilenburg to take a cut in pay or resign at an October 30, 2019 hearing of the Transportation and Infrastructure Committee looking into the 737 Max crashes and Boeing’s accountability. Muilenburg was fired weeks later.
The SEC announced last week that Boeing will pay $200 million and Muilenburg will pay $1 million to settle the misleading investors case.
Congressman Cohen made the following statement:
“Mr. Muilenburg claimed to be accountable for Boeing actions at our hearing but hadn’t suffered a pay cut and hadn’t resigned, as I urged him to do. I was pleased to see the company fire him weeks after our hearing, and this SEC penalty is an appropriate solution that finally makes real his accountability to the investors and others he misled.”
Original source can be found here.
