Boeing Appoints Kelly Ortberg as CEO

Boeing has appointed Kelly Ortberg as its new CEO, effective August 8, 2024, following a tumultuous year marked by significant production issues and a $1.4 billion core operating loss in the last quarter. Ortberg, a seasoned aerospace executive with over 30 years of experience and a history of fostering strong engineering cultures, replaces Dave Calhoun, who announced his retirement amid ongoing safety concerns and operational challenges. Analysts express hope that Ortberg's engineering background will help address the company's internal culture and safety practices, which have been criticized since the 737 Max crashes. Boeing has seen its stock price drop over 25% this year, reflecting growing public and regulatory scrutiny. Ortberg's previous leadership at Rockwell Collins is noted as a positive indicator for his capability to navigate Boeing through its current crises. As he steps into this role, the company faces hurdles including potential strikes and declining defense business operations.