Following the merger of aircraft supplier Spirit Aerosystems with Boeing, Spirit CEO Patrick Shanahan will receive a severance payment of $28,5 million (approximately €26,07 million).
This is according to a report published on Monday. Shanahan's severance package consists of a cash payment of $2,3 million, converted stock valued at $26,1 million and other perks valued at $45.000. These payments are part of a so-called "golden parachute," which is common practice in the United States to offer executives incentives to sell companies, even if it means the end of their own employment.
In July, Boeing agreed to buy back Spirit Aerosystems for $4,7 billion in stock. Airbus, on the other hand, took over the supplier's European production, which led to the split of the world's largest independent aircraft supplier. Shanahan was previously considered a potential successor to the CEO position at Boeing.
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