Boeing Appoints Kelly Ortberg as CEO

Boeing has appointed Kelly Ortberg as its new CEO, effective immediately, in a bid to restore trust and address significant operational and financial challenges. Ortberg, a seasoned aerospace executive with a strong background in engineering, emphasized the importance of quality and safety in his inaugural message to employees, acknowledging the company's recent struggles with production delays and safety concerns, particularly related to the 737 MAX. With Boeing shares down about 37% this year and an ongoing cash burn of approximately $8 billion, Ortberg's focus will include improving relationships with regulators and airlines, boosting production rates, and securing labor agreements to prevent strikes. He plans to be actively involved on the production floor to foster collaboration and accountability among employees. Ortberg's previous experience as CEO of Rockwell Collins positions him as a potentially effective leader capable of stabilizing Boeing's operations. His immediate actions include factory visits and reassessing safety and quality plans across various Boeing plants.