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Fri, Mar 12, 2010

Boeing To Pay Retired Exec $1.5 Million For Consulting

Scott Carson Had Announced His Retirement After 38 Years With The Planemaker

The former chief executive of Boeing's Commercial Airplane Division will be paid about $1.5 million in consulting fees over a two year period following his retirement.

Scott Carson had been with Boeing for 38 years before announcing he would retire as Boeing was shaking up the commercial airline sector of its business. The division had been years late in development of the 787, and there were other difficulties during Carson's time at the helm of the division.

The Associated Press reports that, in an SEC filing, Boeing said it would be paying Carson because of "your extensive and unique knowledge and experience with Boeing's commercial airplane business, including your extensive relationships with Boeing's customers and suppliers."

The deal, which works out to about $850 an hour over two years, begins Friday and runs through March of 2012 ... or about what he would have been paid had he stayed with the company.

Not a bad little retirement package.

FMI: www.boeing.com

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