Boeing Names Kelly Ortberg as New CEO, Effective August 8, Amid $1.4 Billion Loss

Jul 31, 2024, 12:17 PM

Boeing has named aerospace industry veteran Kelly Ortberg as its new President and CEO, effective August 8, 2024. Ortberg, who previously served as President of Rockwell Collins and CEO of Collins Aerospace, will replace Dave Calhoun. The appointment comes as Boeing faces significant challenges, including a $1.4 billion loss in the second quarter, ongoing safety and manufacturing issues, and the need to rebuild trust in the company. Boeing's stock rose nearly 2% in premarket trading following the announcement. The decision follows a months-long search by Boeing's Board of Directors. Ortberg's prior roles include leading Rockwell Collins and Collins Aerospace.