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Boeing's New Direction

1440 Daily Digest


Boeing's board announced yesterday industry veteran Kelly Ortberg will become the aerospace company's new CEO starting Aug. 8, replacing outgoing head Dave Calhoun. The leadership shift was announced as Boeing reported a 15% decline in overall revenues from a year earlier.


The former CEO of aeronautic technologies provider Rockwell Collins, Ortberg will inherit significant production slowdowns and increased regulatory scrutiny following several high-profile incidents with its planes in recent years, including a midflight door plug blowout in January (see timeline). The world's largest aerospace company consists of three business units: commercial airplanes, defense, and international work, and has customers in over 150 countries, with a market valuation of roughly $115B. 


Adding to Boeing's woes is the continued delay of the company's flagship spacecraft Starliner's return to Earth, where a nine-day mission to the International Space Station has been extended 46 days to address technical issues. 

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