Boeing Names Kelly Ortberg as CEO

Boeing has named Robert 'Kelly' Ortberg, a former CEO at Rockwell Collins, as its new chief executive, effective August 8. Ortberg's appointment comes as Boeing grapples with significant legal, regulatory, and production issues, including a $1.4 billion loss in the second quarter. His predecessor, David Calhoun, saw Boeing through a tumultuous period marked by multiple investigations and a major federal fraud charge related to the 737 Max jetliner crashes. Analysts have praised the quicker transition to Ortberg, who is seen as having the right skills to address Boeing's challenges. Despite the daunting task ahead, Ortberg expressed optimism about leading the company into a new chapter. Boeing Chairman Steven Mollenkopf emphasized Ortberg’s reputation for managing complex engineering and manufacturing operations.