Boeing announced the immediate departure of Ted Colbert, the head of its Defense, Space & Security unit, marking a significant personnel change under new CEO Kelly Ortberg. Steve Parker, the current COO of the division, will take over Colbert's responsibilities temporarily as the company faces severe financial challenges, including substantial losses attributed to cost overruns on fixed-price contracts. Ortberg emphasized the need to restore customer trust and improve operational performance, noting that the defense unit has lost billions in recent years due to mismanagement and delays, particularly with the Starliner space capsule. The shake-up follows a period of intense scrutiny and dissatisfaction from Pentagon officials regarding Boeing's project timelines and outcomes. Additionally, the company has recently experienced labor unrest, with over 32,000 workers voting to strike. Boeing's shares have plummeted approximately 41% this year, reflecting ongoing struggles within the organization.