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FILE - The Boeing 777X airplane is shown at the Paris Air Show in Le Bourget, north of Paris, France, on June 19, 2023. Boeing said Wednesday, July 31, 2024, that aerospace industry veteran Robert "Kelly" Ortberg will take over as CEO next week, replacing David Calhoun. Boeing is announcing the new CEO as it reports a loss of more than $1.4 billion in the second quarter. (AP Photo/Lewis Joly, File)

Boeing names its next CEO while posting a quarterly loss of more than $1.4 billion

Boeing has a new chief executive

By DAVID KOENIG
Published - Aug 01, 2024, 02:12 AM ET
Last Updated - Aug 01, 2024, 02:12 AM EDT

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 repercussions.

Robert “Kelly” Ortberg, a former CEO at aerospace manufacturer Rockwell Collins, will succeed David Calhoun as CEO and president effective Aug. 8, the company said. Calhoun said in March that he would retire at the end of the year, and analysts generally praised the quicker transition.

“There is much work to be done, and I’m looking forward to getting started,” Ortberg said in a statement issued by Boeing.

Boeing announced its new CEO as it reported a loss of more than $1.4 billion on falling revenue during the second quarter. The loss was wider and the company's revenue lower than Wall Street's dismal expectations, as both Boeing's commercial-airplanes business and defense unit lost money.

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