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Boeing’s Big Year Means Big Raise For CEO Jim McNerney

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US President Barack Obama speaks to Boeing CEO Jim McNerney. (credit: JIM WATSON/AFP/Getty Images)

US President Barack Obama speaks to Boeing CEO Jim McNerney. (credit: JIM WATSON/AFP/Getty Images)

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SEATTLE (AP) – A good year for Boeing turned into a bigger paycheck for CEO Jim McNerney.

McNerney’s pay rose 34 percent to $18.4 million. The big jump was in his incentive pay, which almost doubled to $8.7 million. His base pay was unchanged at $1.9 million.

The Associated Press calculated his pay based on a Boeing Co. proxy filing on Friday. The calculation counts salary, bonuses, perks, stock and options awarded to the executive during the year.

Boeing says the bigger paycheck was because the company delivered its new 787 and revamped 747-8, won a huge contract to make a new tanker for the Air Force, and other items.

Boeing had a $4 billion profit last year, up more than 21 percent. Its shares rose 12 percent for the year.

(© Copyright 2012 The Associated Press. All Rights Reserved. This material may not be published, broadcast, rewritten or redistributed.)

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