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Boeing names new CEO after losses more than triple

Boeing named a new CEO after it reported a core operating loss of $1.4 billion in the second quarter – more triple the loss from a year ago – as increased scrutiny of the safety and quality of its planes kept the troubled company from making enough aircraft to return to profitability.

,   and  John Stellmacher
1 min read
Boeing 777 freighters and 777X under construction at its Washington state factory.
Boeing 777 freighters and 777X under construction at its Washington state factory.

Boeing names new CEO after losses more than triple

Boeing announced Robert K. “Kelly” Ortberg, the former CEO of supplier Rockwell Collins, will be its new CEO, effective August 8, replacing retiring Boeing CEO Dave Calhoun, who has been under fire for the company’s problems. Ortberg has a background as an engineer, not in finance, having earned his college degree in mechanical engineering.

– This is a developing story, it will be updated.

Ortberg's engineering background might raise questions in the business world about his suitability for overseeing Boeing's financial strategies, given his lack of experience in investing. With his new role, Ortberg will have opportunities to learn about and make strategic investments for the company's growth.

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