Nikki Haley resigns from Boeing board
Haley, former United Nations Ambassador, is bailing from Boeing's Board effective immediately
Photo by John Lamparski/Getty Images
Nikki Haley, former United Nations ambassador, resigned from Boeing's board effective immediately over objections of a possible government aid package for the planemaker, one of many initiatives being discussed by the federal government amid the coronavirus crisis.
| Ticker | Security | Last | Change | Change % |
|---|---|---|---|---|
| BA | THE BOEING CO. | 152.42 | +1.70 | +1.13% |
In a filing with the Securities and Exchange Commission, the company stated:
"Ambassador Haley informed the Company that, as a matter of philosophical principle, she does not believe that the Company should seek support from the Federal Government, and therefore decided to resign from the Board."
Boeing said it is exploring a number of "approaches" with the government and private sector to address "near-term liquidity needs of the aerospace, travel, and other sectors affected by the current COVID-19 crisis."
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The move is the latest blow to the planemaker which, prior to the coronavirus, was dealing with the fallout of their own related to the Max Jet crisis. The aircraft has yet to be recertified to fly after two fatal crashes.
In Haley's resignation letter she praised Boeing's team for their "humility" and "transparency" as related to the Max Jet crisis.
BOEING DIVIDEND AT RISK AS COMPANY LOOKS TO SAVE CASH: REPORT
The company's dividend, which yields over 8 percent, might be cut as the company weighs alternatives to conserve cash, as reported by The Wall Street Journal.
The stock has lost over 70 percent so far this year.
In January, new CEO David Calhoun, told FOX Business, "We recognize we have a lot of work to do...We are focused on returning the 737 Max to service safely and restoring the longstanding trust that the Boeing brand represents with the public."
Calhoun is Boeing's third CEO in the past five years, following Dennis Muilenburg's ouster last month.
Haley, who joined the board in April of 2019, served on the finance and audit committees.
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