Boeing named a longtime aerospace industry veteran as its next chief executive, who will take over a company that has been rocked by legal, regulatory and production problems.
Boeing names new CEO as it posts a loss of more than $1.4 billion in second quarter
Boeing named a longtime aerospace industry veteran as its next chief executive, who will take over a company that has been rocked by legal, regulatory and production problems.
Robert "Kelly" Ortberg, 64, a former CEO at aerospace supplier Rockwell Collins, will succeed David Calhoun, 67, as CEO effective Aug. 8, the company said on Wednesday.
Boeing announced its new CEO as it reported a loss of more than $1.4 billion on falling revenue during the second quarter. The loss was wider and revenue lower than Wall Street expected, as both Boeing’s commercial-airplanes business and defense unit lost money.
The disappointing results come at a tumultuous time for Boeing. The company agreed to plead guilty to fraud in connection with the Max, two of which crashed, killing 346 people. The Federal Aviation Administration has increased its oversight of the company following mistakes including the blowout of a panel on an Alaska Airlines jet. It is pushing back against whistleblower allegations of manufacturing shortcuts that crimp on safety.