The American aircraft manufacturer Boeing has suffered several setbacks under CEO David Calhoun.

Now, influential advisor ISS is urging the company's shareholders to say no to a proposed huge increase in Calhoun's compensation level.

It's been a difficult year for Boeing so far. After a couple of serious safety incidents, the company has faced forced flight groundings, government inquiries, criminal investigations, and multibillion-dollar damages.

Confidence in the company has plummeted, as has the share price – down 31 percent so far this year.

Nevertheless, there is a proposal that the general meeting on May 17 should approve a 45 percent increase in David Calhoun's compensation, Bloomberg reports.

But that's causing Institutional Shareholder Services (ISS) – which advises institutional clients on how to vote on various issues – to back down and recommend a no.

At the end of April, the company Glass Lewis, which, like ISS, is an advisor to large institutional owners, recommended to the general meeting not to give Calhoun new confidence.

At that time, he had already said that he intended to resign at the turn of the next year.

Glass Lewis also recommended that senior executives David Joyce and Akhil Johri, who in their roles had significant responsibility for aviation safety issues, be forced to leave Boeing.

Source: TT-DI.SE