Robert Ortberg Named Boeing CEO Starting August 8

Boeing has appointed Robert 'Kelly' Ortberg as its new CEO, replacing David Calhoun effective August 8, amid significant financial and reputational challenges. Ortberg, a seasoned aerospace executive with a background at Rockwell Collins, was chosen after an extensive search and is expected to help Boeing navigate its ongoing crises, including federal investigations and quality issues. Boeing reported a $1.4 billion loss in Q2, surpassing Wall Street's expectations, with declining revenues and struggles in both its commercial and defense units. The company is also facing increased FAA scrutiny following a mid-air panel blowout on an Alaska Airlines jet. Despite these challenges, experts believe Ortberg's experience and leadership qualities make him a strong candidate to lead Boeing's turnaround.