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Unlock the Editor\u2019s Digest for free<\/p>\n
Roula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter.<\/span><\/p>\n<\/iframe><\/div>\n<div id=\"article-body\">\n<p>Boeing is replacing its chief financial officer with a former Lockheed Martin finance chief, as the struggling US aircraft maker continues its turnaround effort.<\/p>\n<p>The aerospace giant on Monday said Jesus \u201cJay\u201d Malave would replace Brian West, who has served as CFO for the past four years. West will remain as an adviser to <a href=\"https:\/\/www.ft.com\/stream\/6f219ed8-b11c-4239-9891-eaa3ba2523a1\" data-trackable=\"link\">Boeing<\/a>\u2019s chief executive Kelly Ortberg.\u00a0The handover will take effect in mid-August.<\/p>\n<p>The move marks the most high-profile change in Boeing\u2019s leadership team since <a href=\"https:\/\/www.ft.com\/stream\/0baba85d-60b0-4045-8efc-4ad4880dd1aa\" data-trackable=\"link\">Ortberg<\/a> took the helm last August, tasked with overhauling the company after a series of safety and manufacturing crises beginning with the Lion Air 737 Max crash in 2018.\u00a0<\/p>\n<p>West, who was appointed CFO by Ortberg\u2019s predecessor Dave Calhoun, oversaw Boeing\u2019s finances through its recent turmoil. He also helped to orchestrate its $24bn equity raising last year to shore up its balance sheet.\u00a0<\/p>\n<p>\u201cJay will become CFO at an important time in helping build Boeing\u2019s next chapter as we continue to make progress on our recovery and implement fundamental changes rooted in safety and quality,\u201d Ortberg said.\u00a0<\/p>\n<p>The chief executive told the Financial Times in early June that restoring Boeing\u2019s status as a US manufacturing champion would be a \u201cmultiyear\u201d process.\u00a0<\/p>\n<p>Scrutiny of the company, however, has since intensified following <a href=\"https:\/\/www.ft.com\/content\/bcf77cb5-b467-4a21-bbbb-5df715c45310\" data-trackable=\"link\">the crash of a Boeing 787-8 Dreamliner<\/a> in India earlier this month which killed all but one of the 242 people on board and at least 29 on the ground. The cause of the Air India crash is not yet known.<\/p>\n<aside aria-labelledby=\"aside-label\" class=\"n-content-recommended--single-story n-content-recommended--inset\" data-component=\"recommended\">\n<p class=\"n-content-recommended__title o3-type-body-highlight\">Recommended<\/p>\n<div class=\"o-teaser o-teaser--article o-teaser--small o-teaser--stacked o-teaser--has-image js-teaser\" data-id=\"dbb134f6-3f7a-468f-a8fc-3c36fe429ff1\">\n<div class=\"o-teaser__image-container js-teaser-image-container\"><a href=\"https:\/\/www.ft.com\/content\/dbb134f6-3f7a-468f-a8fc-3c36fe429ff1\" data-trackable=\"image-link\" data-trackable-context-story-link=\"image-link\" tabindex=\"-1\" aria-hidden=\"true\"><\/p>\n<div class=\"o-teaser__image-placeholder\" style=\"aspect-ratio:2493\/1402\"><\/div>\n<p><\/a><\/div>\n<\/div>\n<\/aside>\n<p>Ortberg, who previously held leadership roles with United Technologies and Raytheon, has made progress in stabilising Boeing\u2019s production and improved its quality control processes, following the mid-air blowout of a door panel on a Boeing plane in January 2024.\u00a0<\/p>\n<p>Malave most recently served as CFO at Lockheed Martin, a post he held for just over three years.<\/p>\n<p>Shares in Boeing were flat in after-hours trading.\u00a0<\/p>\n<\/div>\n\n<br \/><a href=\"https:\/\/www.ft.com\/content\/44e59cbd-d066-4251-909d-cf63387ea23f\">Source link <\/a><\/p>\n","protected":false},"excerpt":{"rendered":"Unlock the Editor\u2019s Digest for free Roula Khalaf, Editor of the FT, selects her favourite stories in this…\n","protected":false},"author":5,"featured_media":32885,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[23],"tags":[],"class_list":["post-32884","post","type-post","status-publish","format-standard","has-post-thumbnail","category-us","cs-entry","cs-video-wrap"],"_links":{"self":[{"href":"https:\/\/financialrush.com\/index.php?rest_route=\/wp\/v2\/posts\/32884","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/financialrush.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/financialrush.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/financialrush.com\/index.php?rest_route=\/wp\/v2\/users\/5"}],"replies":[{"embeddable":true,"href":"https:\/\/financialrush.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=32884"}],"version-history":[{"count":0,"href":"https:\/\/financialrush.com\/index.php?rest_route=\/wp\/v2\/posts\/32884\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/financialrush.com\/index.php?rest_route=\/wp\/v2\/media\/32885"}],"wp:attachment":[{"href":"https:\/\/financialrush.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=32884"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/financialrush.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=32884"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/financialrush.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=32884"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}
<\/iframe><\/div>\n<div id=\"article-body\">\n<p>Boeing is replacing its chief financial officer with a former Lockheed Martin finance chief, as the struggling US aircraft maker continues its turnaround effort.<\/p>\n<p>The aerospace giant on Monday said Jesus \u201cJay\u201d Malave would replace Brian West, who has served as CFO for the past four years. West will remain as an adviser to <a href=\"https:\/\/www.ft.com\/stream\/6f219ed8-b11c-4239-9891-eaa3ba2523a1\" data-trackable=\"link\">Boeing<\/a>\u2019s chief executive Kelly Ortberg.\u00a0The handover will take effect in mid-August.<\/p>\n<p>The move marks the most high-profile change in Boeing\u2019s leadership team since <a href=\"https:\/\/www.ft.com\/stream\/0baba85d-60b0-4045-8efc-4ad4880dd1aa\" data-trackable=\"link\">Ortberg<\/a> took the helm last August, tasked with overhauling the company after a series of safety and manufacturing crises beginning with the Lion Air 737 Max crash in 2018.\u00a0<\/p>\n<p>West, who was appointed CFO by Ortberg\u2019s predecessor Dave Calhoun, oversaw Boeing\u2019s finances through its recent turmoil. He also helped to orchestrate its $24bn equity raising last year to shore up its balance sheet.\u00a0<\/p>\n<p>\u201cJay will become CFO at an important time in helping build Boeing\u2019s next chapter as we continue to make progress on our recovery and implement fundamental changes rooted in safety and quality,\u201d Ortberg said.\u00a0<\/p>\n<p>The chief executive told the Financial Times in early June that restoring Boeing\u2019s status as a US manufacturing champion would be a \u201cmultiyear\u201d process.\u00a0<\/p>\n<p>Scrutiny of the company, however, has since intensified following <a href=\"https:\/\/www.ft.com\/content\/bcf77cb5-b467-4a21-bbbb-5df715c45310\" data-trackable=\"link\">the crash of a Boeing 787-8 Dreamliner<\/a> in India earlier this month which killed all but one of the 242 people on board and at least 29 on the ground. The cause of the Air India crash is not yet known.<\/p>\n<aside aria-labelledby=\"aside-label\" class=\"n-content-recommended--single-story n-content-recommended--inset\" data-component=\"recommended\">\n<p class=\"n-content-recommended__title o3-type-body-highlight\">Recommended<\/p>\n<div class=\"o-teaser o-teaser--article o-teaser--small o-teaser--stacked o-teaser--has-image js-teaser\" data-id=\"dbb134f6-3f7a-468f-a8fc-3c36fe429ff1\">\n<div class=\"o-teaser__image-container js-teaser-image-container\"><a href=\"https:\/\/www.ft.com\/content\/dbb134f6-3f7a-468f-a8fc-3c36fe429ff1\" data-trackable=\"image-link\" data-trackable-context-story-link=\"image-link\" tabindex=\"-1\" aria-hidden=\"true\"><\/p>\n<div class=\"o-teaser__image-placeholder\" style=\"aspect-ratio:2493\/1402\"><\/div>\n<p><\/a><\/div>\n<\/div>\n<\/aside>\n<p>Ortberg, who previously held leadership roles with United Technologies and Raytheon, has made progress in stabilising Boeing\u2019s production and improved its quality control processes, following the mid-air blowout of a door panel on a Boeing plane in January 2024.\u00a0<\/p>\n<p>Malave most recently served as CFO at Lockheed Martin, a post he held for just over three years.<\/p>\n<p>Shares in Boeing were flat in after-hours trading.\u00a0<\/p>\n<\/div>\n\n<br \/><a href=\"https:\/\/www.ft.com\/content\/44e59cbd-d066-4251-909d-cf63387ea23f\">Source link <\/a><\/p>\n","protected":false},"excerpt":{"rendered":"Unlock the Editor\u2019s Digest for free Roula Khalaf, Editor of the FT, selects her favourite stories in this…\n","protected":false},"author":5,"featured_media":32885,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[23],"tags":[],"class_list":["post-32884","post","type-post","status-publish","format-standard","has-post-thumbnail","category-us","cs-entry","cs-video-wrap"],"_links":{"self":[{"href":"https:\/\/financialrush.com\/index.php?rest_route=\/wp\/v2\/posts\/32884","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/financialrush.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/financialrush.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/financialrush.com\/index.php?rest_route=\/wp\/v2\/users\/5"}],"replies":[{"embeddable":true,"href":"https:\/\/financialrush.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=32884"}],"version-history":[{"count":0,"href":"https:\/\/financialrush.com\/index.php?rest_route=\/wp\/v2\/posts\/32884\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/financialrush.com\/index.php?rest_route=\/wp\/v2\/media\/32885"}],"wp:attachment":[{"href":"https:\/\/financialrush.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=32884"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/financialrush.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=32884"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/financialrush.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=32884"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}