Former U.N. ambassador Nikki Haley announced she is stepping down from Boeing’s board of directors because they were “going in a direction I cannot support.”
Haley announced her resignation in a letter on a Securities and Exchange Commission filing following the aircraft maker’s request for a government bailout amid the coronavirus outbreak.
“Ambassador Haley informed the Company that, as a matter of philosophical principle, she does not believe that the Company should seek support from the Federal Government, and therefore decided to resign from the board,” Boeing said in the filing, referring to its request for a $60 billion government bailout.
“As we encounter the COVID-19 crisis, Boeing, along with many other companies, face another major set of challenges,” Haley wrote in the letter dated Monday.
“However, the board and the executive team are going in a direction I cannot support,” the former Republican governor of South Carolina, where Boeing has a large plant, added.
Nikki Haley resigns from Boeing board because she opposes a federal bailout.
“I cannot support a move to lean on the federal government for a stimulus or bailout that prioritizes our company over others and relies on taxpayers to guarantee our financial position.” pic.twitter.com/ngnGQWG79j
— Steve Kopack (@SteveKopack) March 19, 2020
She noted that when she joined the board nearly one year ago, “there was no better team I could think of being a part of,” but she went on to explain why her decision to resign was based on her “convictions.”
“While I know cash is tight, that is equally true for numerous other industries and for millions of small businesses,” Haley wrote.
“I cannot support a move to lean on the federal government for a stimulus or bailout that prioritizes our company over others and relies on taxpayers to guarantee our financial position. I have long held strong convictions that this is not the role of government,” she said in the letter.
“I strongly believe that when one is part of a team, and one cannot in good faith support the direction of the team, then the proper thing to do is to resign. As such, I hereby resign my position from the Boeing Board,” Haley wrote, adding that she “will continue to be a strong supporter of Boeing and its workforce.”
“We appreciate her service on the board and wish her well,” the company said in a statement.
A potential $1 trillion stimulus bill being crafted by lawmakers could provide the federal support companies like Boeing would be competing to get. At a news conference earlier this week, President Trump said that he supported a bailout for Boeing as the U.S. military contractor, as well as other industries, have been hit economically by the coronavirus outbreak.
Nikki Haley resigns from Boeing Board- does not believe the Company should seek support the Fed Gov.
I talked about Boeing hiking dividend 300% buying $43B of own shares since 2013. Socializing losses after such largess won’t fly as Main Street suffers. Small businesses first.
— Charles V Payne (@cvpayne) March 19, 2020
The economic stimulus bill Senate Republicans introduced on Thursday, did not specifically mention the aerospace industry but did include $50 billion in “loans and loan guarantees” for passenger airlines and another $8 billion for “cargo air carriers.”
Twitter users reacted to the news about Haley, whose name has repeatedly been floated as a potential 2024 presidential candidate and recently as a new running mate for President Trump.
If you believe this, I have a crumbling bridge to sell you…
Nikki Haley quits Boeing board, citing disagreement with company’s bailout request https://t.co/noHdGxi544
— Susan Rice (@AmbassadorRice) March 20, 2020
Biden commits to pick a woman as VP. Nikki Haley clearing her calendar for the fall. Mike Pence: 😬😢🤦♂️.
— Bill Kristol (@BillKristol) March 16, 2020
I’m sure this seems totally innocent to those who haven’t been paying attention for 3 years.
— True Blue Lady in a Red State (@Kristi_K_2) March 19, 2020
This is the kind of thing you’d do if you planned on being a candidate for office soon. https://t.co/hZHg3pM9IC
— The Hoarse Whisperer (@HoarseWisperer) March 19, 2020
VP move.
— Lucy Crawley (@Lucy37644823) March 19, 2020
That’s someone eyeing a ticket run down the road.
— David Hargis (@kidsfav) March 19, 2020
WOW! That’s all I could think to say here! Nikki Haley, less than 1 year on the job as a member of BOEING’s Board of directors, decided to STEP DOWN yesterday. She is “completely against” ANY bail-out money from the government. Ladies and Gents, let the politics begin for 2024 pic.twitter.com/T0XS4PnFVf
— Bobbyg1124 (@bobbyg1124) March 20, 2020
I love this woman. Thank you, @NikkiHaley, for being principled. So refreshing.
— Big D (@BigDa46656009) March 19, 2020
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Originally from New York, Powers graduated from New York University and eventually made her way to sunny South Florida where she has been writing for the BizPacReview team since 2015.
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