Boeing named an aerospace industry veteran with a background in mechanical engineering as its next chief executive Wednesday, looking to open a new chapter at a company rocked by legal, regulatory and production problems and mounting financial reperc
ussions.
The disappointing results came at a tumultuous time for Boeing, which is the subject of multiple investigations into its safety culture and manufacturing quality. “I don't think he's coming in with a notion to want to change a lot of folks,” Calhoun said on a call with analysts. “He knows full well we're in recovery mode, and he knows full well that we've got to complete the recovery mode and we've got to get this thing stable and move forward.”
“He is a deeply respected leader in the aerospace industry, and brings more hope for a better future than the company has enjoyed in decades,” Aboulafia said. Like Calhoun, who took over as CEO in the wake of the two Max crashes, Ortberg inherits the leadership of a company facing ongoing crises and criticism from inside and outside the company.
The quarterly earnings reported Wednesday reflected the scope of Boeing's challenges. The reported loss of $1.44 billion for the second quarter compared with a loss of $149 million a year earlier. Since the start of 2019, Boeing has lost more than $25 billion.
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