Boeing’s new CFO Marav receives $1.05 million in annual salary

(Reuters) – Boeing Co said Thursday that CFO Jesus’ “Jay” Marav will receive $1.05 million in base annual salary and will be recognized as an annual and long-term incentive award with target values ​​of $1.26 million and $6.5 million respectively.

PlaneMaker said Monday that he appointed former Lockheed Martin Executive as new CFO on August 15th.

Boeing said that due to his previous role at Lockheed, Malabe will not be involved in the defense, space and security business until the end of the year.

He will also be restricted from working on vendor relationships involving Lockheed until April 2026, and will be restricted from participating in procurement matters, which is a competitor.

The company will also pay Lockheed $2 million to settle claims related to his employment.

(Reporting by Nathan Gomez of Bengaluru, edited by Alan Barona)