Boeing CEO compensation rose in 2011

Fri Mar 16, 2012 5:17pm EDT

(Reuters) - Boeing (BA.N) Chief Executive James McNerney had total compensation valued at $22.96 million last year, up 16 percent from 2010, as earnings rose and the company had successes that included winning a big U.S. Air Force tanker competition.

McNerney, 62, who has been chairman and CEO of the second largest plane maker since July 2005, had a salary of $1.93 million, unchanged from 2010. His compensation also included non-equity incentive pay of $8.7 million, and stock and option awards each valued at about $3.4 million.

Last year, Boeing's net earnings jumped 21 percent to $4 billion as revenue rose about 7 percent to $68.7 billion.

In its proxy filing, Boeing noted 2011 achievements such as its win of a U.S. defense contract valued at more than $30 billion to build aerial refueling tankers, the certification and delivery of its carbon-composite 787 Dreamliner plane and record orders of the widebody 777.

(Reporting by Karen Jacobs)