CEO Dennis Muilenburg will begin the annual meeting with a moment of silence for the 346 people killed in Indonesia's October crashes of Ethiopian Airlines and Lion Air in Indonesia by CNN Business. He will insist that Boeing puts safety first, and he wants to say that the company has made every effort to find a solution. And he'll swear the 737 Max will be the safest aircraft in the air as soon as Boeing develops a solution for the automatic safety function that is the focus of both crash tests.
"These enduring values are central to all our actions," said Muilenburg in his prepared remarks. "However, we know that we can always be better, we have the responsibility to design, build and support the safest aircraft in the sky, and recent accidents have only increased our commitment."
The resolution was in front of the current crisis, and at last year's annual meeting there was a similar proposal that was defeated with support from only 25% of the company's stock. However, two shareholder advisory firms voted for the resolution this time.
"Shareholders would benefit from the most robust form of independent oversight to ensure that corporate governance can regain the trust of regulators, customers and other key stakeholders," said one of these service providers, ISS, in a note in which he said demanded support for the measure.
A small group of demonstrators balked at the annual meeting with pouring rain and cold. Most had large photos of some of the people killed on both flights. There were signs saying "Boeing's Arrogance Kills" and "Boeing & Executors Following Manslaughter".
Muilenburg defended this earlier decision to include the warning as an option in its prepared remarks.
"We do not make security features optional," he said "Each of our aircraft contains all the safety features needed for a safe flight."
Muilenburg said Again, that the company comes close to a software fix. With the updated software 1
The safety feature pushes the nose of the aircraft down when a sensor detects that it is climbing too fast and is subject to a stall. Apparently, the sensor gave an incorrect value on both flights. Two weeks after the crash in Ethiopia, Boeing announced that the software fix would add data to a second sensor that measures the aircraft's horizontal tilt.
– Glen Dacy of CNN contributed to this report