CFO Brian West will leave Boeing in mid-August and transition to a senior advisor role. Jay Malave, previously CFO of Lockheed Martin, is appointed as the new CFO. During West's tenure, Boeing faced challenges, including aircraft malfunctions and a 2024 strike. CEO Kelly Ortberg praised West for guiding the company through financial recovery and ensuring resources for safety improvements. Despite a tough period, Boeing reported a smaller-than-expected loss in its first-quarter earnings, indicating recovery progress in its operations.
Boeing has faced significant challenges, from a series of aircraft malfunctions and management missteps to a strike by more than 33,000 machinists in 2024.
Brian successfully guided us through last year's historic capital raise and ensured our team always had the resources to continue the critical work to strengthen safety and quality across our operations.
These past few years have been some of the most consequential in Boeing's history, as CFO, West played a major role in guiding the company's recovery.
Boeing's first-quarter earnings, reported in April, showed signs of recovery progress with an adjusted loss of 49 cents per share on revenue of $19.5 billion.
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