Dennis Muilenburg is saying no to a bonus that is likely worth at least $14.5 million in the wake of the tragedies that have wiped billions off the value of Boeing.
In the most intense exchange of the two-day hearing so far,the Boeing CEO was left shaken after being hammered with questions over his pay.
The 737 Max was called a'flying coffin'by one senator as Boeing CEO Dennis Muilenburg faced withering questions in Washington.
Other fatal mistakes included a lack of training for pilots in the new system and a lack of documentation about problems in previous Lion Air flights.
The news comes as a scathing report was released highlighting missteps by the planemaker and aviation regulators in the development and approval of the jet.
Analysis after the Lion Air disaster found that likelihood of a similar cockpit emergency was high,Dow Jones reported,citing an unidentified FAA official.
The embattled planemaker has warned a hefty charge related to the grounding of the jets following two deadly crashes will slash its earnings.
Boeing says that many options are on the table as it seeks to win back the confidence of travellers.
Prominent US consumer advocate Ralph Nader has lambasted Boeing over what he says is a fatal design flaw,and called for the plane to be permanently grounded.
Qantas boss Alan Joyce is confident Boeing's 737 MAX aircraft will return to the skies safely after two crashes killed 346 people.
An Ethiopian Airlines pilot told top managers at the carrier months before one of its 737 MAX jets crashed that more training was needed to avert a disaster.