Today in our American Meritocracy

Say this for capitalism, at least it ruthlessly punishes failure:

Dennis A. Muilenburg, who was ousted as Boeing’s chief executivelast month as the company contended with the biggest crisis in its history, will depart with more than $60 million, the company said Friday. 

Mr. Muilenburg will not receive any additional severance or separation payments in connection with his departure, and Boeing said he had forfeited stock units worth some $14.6 million. 

But the value of the other stock and pension awards he is contractually entitled to receive is worth $62.2 million, the company said. Mr. Muilenburg also has stock options that could be worth many millions more.

“We thank Dennis for his nearly 35 years of service to the Boeing Company,” the company said in a statement. “Upon his departure, Dennis received the benefits to which he was contractually entitled and he did not receive any severance pay or a 2019 annual bonus.” 

Whew, not getting that one bonus along with the golden parachute will definitely provide a strong disincentive for the next C.E.O.!

Meanwhile, as farce:

Not sure why publishing the salary of a well-off person is taboo but it’s $250,000 https://t.co/9sbuiRDCgz— Laura Wagner (@laurawags) January 11, 2020

Look, if any company had such a first-rate HR department that they had to pay vastly above-market rates to keep its head, it’s definitely G/O Media.