New York (AFP)

Boeing announced Friday that its former general manager Dennis Muilenburg, dismissed on December 23 for a management considered catastrophic of the crisis of the 737 MAX plane, would not receive severance pay.

Muilenburg, who took the helm of Boeing in July 2015, will also not receive a bonus for 2019, the aircraft manufacturer said in a document sent to the SEC, the American stock market policeman. He was to collect a total of $ 39 million in this regard.

"Mr. Muilenburg is not entitled to and has not received termination benefits or payments related to his departure after more than thirty years with the company," said the aircraft manufacturer.

The MAX has been grounded since mid-March after two close accidents that killed a total of 346 people. The MCAS anti-stall system has been implicated in the accidents and Boeing is currently working on a fix.

Muilenburg, who spent 34 years at Boeing, also gave up $ 14.6 million in securities, Boeing said, suggesting that the board had completely lost confidence in the executive 56 years old.

- 62 million -

However, the manager retains all of his stock options and his retirement obtained before his promotion to the position of CEO. The value of these is $ 62.2 million at the closing price of the Boeing share on January 9, says Boeing.

He also holds "options" to buy 72,969 Boeing shares at a unit price of $ 75.97. If he did, he would then realize a huge capital gain given the current Boeing share price - $ 329.92.

Muilenburg will be replaced on Monday by David Calhoun, 62, a former executive of General Electric (GE) and a member of the Boeing board of directors for several years.

The new leader will have an annual base salary of $ 1.4 million for 2020 and could claim a bonus of $ 7 million if he ever managed to get the 737 MAX back into service, Boeing said in the stock market document.

After having supported him despite criticism from the families of the victims of the accidents and those of the American parliamentarians, the Boeing board of directors had finally let go of Mr. Muilenburg because of strong tensions with the federal aviation agency, the FAA, according to sources familiar with the matter.

The manager also got rid of the 737 MAX client airlines - American Airlines, United Airlines and Southwest -, to whom he had promised to return to service "within a few weeks" of this star plane.

© 2020 AFP