Boeing new CEO Ortberg

Robert 'Kelly' Ortberg has been appointed as Boeing's new president and CEO, effective August 8, 2024, succeeding Dave Calhoun, who is retiring. With over 35 years in the aerospace industry, including a successful tenure as CEO of Rockwell Collins, Ortberg is expected to navigate Boeing through its current challenges, including a significant cash burn and regulatory scrutiny following safety issues. Analysts view his appointment positively, although they remain cautious about the company's financial recovery after reporting a loss of over $1.4 billion in the second quarter. Ortberg's immediate focus will be on rebuilding trust with airline customers and regulators while addressing the company's operational issues. His leadership is seen as crucial for stabilizing Boeing and restoring its prominence in the aerospace sector, as the company struggles with the aftermath of previous crises. Despite concerns about his age and time away from a CEO role, Ortberg's extensive experience in aerospace leadership is viewed as an asset to the company’s turnaround efforts.