Of course they can’t.

They were the ones who spent tens of billions of dollars on stock buybacks instead of investing in new aircraft as a part of a systematic plan to allow upper management to loot the company through stock options:

In December, when Boeing’s board of directors fired CEO Dennis Muilenburg, some corporate governance experts and investment analysts wondered what took so long.


Investigations, lawsuits and news stories revealing festering internal problems had piled up. Muilenburg faced public grillings and calls for his resignation during Congressional hearings. Revenues and stock values plummeted. Worst of all, Boeing’s once sterling reputation for quality and safety was badly tarnished.

The prolonged hesitance to fire Muilenberg in the face of spiraling crises underscores concerns about the board’s oversight of the company, even as it faced the most troubling period of its 103-year history. It also raises questions about the board’s culpability in the tragedies and its ability to reestablish confidence in the company among regulators, Wall Street and the flying public.

“Nine months is a long time — it’s a forever in business for a crisis like this,” said Charles Elson, a professor of finance and head of the John L. Weinberg Center for Corporate Governance at the University of Delaware. “So, the question is, where was the board during that time? If they only came around ‘late in the game,’ well why is that?”

Because the board of directors are largely a creature of corrupt upper management whose goal is get their vigorish before the whole house of cards collapses.

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