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I am wondering if I should believe that. Therefore a few questions:
a) Do board members get a fixed compensation, or does their compensation also depend on stock price?
b) What is talked within a board meeting is none of the shareholder's business?
c) The last years were a seller's market. Boeing had to decide if they wanted to spend profits to design a new plane or to buy back shares. I assume the board had to agree to the policy of share buybacks? If yes, would the board vote for somebody who didn't want that?
d) Boeing wanted to avoid separate simulator training for the Max. Would you expect the board to be involved in this question?
I ask the last question because I wonder how deep the board is involved in catastrophic wrong decisions. The deeper they are involved, the less I expect them to vote for a rebel who had always opposed them. Unless of course all of them had a board meeting in which they decided that they should change from Saul to Paul.
a) Depends on the company
b) Internal discussions within the Board are privileged information. Only decisions are shareholders business.
c) The Board would normally have to approve a share buyback; unless there was a Board pre-approved policy that allowed share buybacks to occur at certain "free cash" ratios or values. Even then - that's been approved by the Board in the past.
d) An issue like simulator training would not normally rise to the level of the Board. It might not rise to the level of the CEO either. Most likely made by an upper manager or vice president.
Have a great day,