Boeing appointed a new boss and announced a net loss of $1.4 billion in the second quarter of 2024

2024-07-31 13:38:40

Total Le Figaro with AFP

Published three hours ago,
Updated 2 hours ago

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Kelly Ortberg has been appointed by the American airline to take control of the group. He will succeed Dave Calhoun on August 8.

The American aeronautical group Boeing announced on Wednesday the appointment of Kelly Ortberg to be its new director, from August 8, replacing Dave Calhoun who announced in the spring his departure before the end of the year. “The Board of Directors has conducted an extensive and thorough search process in recent months to select Boeing’s new CEO and Kelly has the right skills and experience to lead Boeing in its next chapter”commented Steven Mollenkopf, chairman of the board, in a message addressed to the union’s employees and in the press release announcing this selection.

Robert K. “Kelly” Ortberg, his full name, worked for five years in the aeronautics field after starting his career in 1983 as an engineer at Texas Instruments. He then joined Rockwell Collins which, after several mergers and acquisitions, is now called Collins Aerospace and is a subsidiary of Aerospace America and the defense company RTX (formerly Raytheon). Now 64 years old, he is retiring from RTX in 2021. “I am very honored and grateful to be a part of this cancer team”commented Kelly Ortberg, quoted in the press release.

Member of the board of directors since 2009 and appointed general manager at the beginning of 2020 to restore the position after the losses of 2018 and 2019, in which 346 died, Dave Calhoun has been removed by the crisis that Boeing is going for several months with production problems and quality control. His retirement was announced on March 25, as part of a reshuffle at the club’s leadership.

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In a separate statement, the airline reported second-quarter results well below analysts’ forecasts, with a net loss of $1.44 billion due to lower deliveries in its commercial aviation business and losses on contracts in its defense division. . A consensus of Factset analysts expected a net loss of $913 million (net loss of $149 million a year ago) and, on a per share basis and excluding exceptional items, it had expected a loss of $1.90 but it came in at $2.90. The change reached 16.86 billion between April and June, or 15% month over the same period of the previous year.