Boeing taps former Collins Aerospace CEO Kelly Ortberg to replace Dave Calhoun

Boeing taps former Collins Aerospace CEO Kelly Ortberg to replace Dave Calhoun


Kelly Ortberg, chief executive officer of Rockwell Collins Inc., stands for a photograph at the company’s production facility in in Manchester, Iowa, U.S., on Wednesday, Aug. 31, 2016. 

Daniel Acker | Bloomberg | Getty Images

Boeing has named Robert “Kelly” Ortberg to succeed CEO Dave Calhoun, picking a longtime aerospace veteran from outside the company as the manufacturer scrambles to regain its footing from safety and manufacturing crises. He will start Aug. 8.

Ortberg, 64, previously led major aerospace supplier Rockwell Collins, which later became Collins Aerospace, and the business is now part of industry behemoth RTX. He retired in 2021.

Ortberg, who has a mechanical engineering degree, will face a host of challenges as Boeing’s CEO: persistent losses, heightened regulator scrutiny, a crisis of confidence from airline customers whose planes are delayed, and tense labor talks that now include the threat of a strike.

His appointment Wednesday came alongside Boeing’s second-quarter results, which revealed a wider-than-expected loss and a 15% drop in sales.

Boeing announced in March that Calhoun would step down by year’s end, part of a broader company shake-up that also included the departure of its then-chairman and the replacement of its head of commercial aircraft. The changes came after a door plug blew out of a nearly new 737 Max 9, reigniting federal scrutiny over Boeing just as it was trying to move on from two fatal crashes of its bestselling plane.

“The Board conducted a thorough and extensive search process over the last several months to select the next CEO of Boeing and Kelly has the right skills and experience to lead Boeing in its next chapter,” Boeing’s chairman, Steven Mollenkopf, said in note to employees on Wednesday. “Kelly is an experienced leader who is deeply respected in the aerospace industry, with a well-earned reputation for building strong teams and running complex engineering and manufacturing companies.”

Ortberg will also join Boeing’s board.

Don’t miss these insights from CNBC PRO



Source

Gap raises guidance ahead of holidays after storms, warm weather slowed sales
Business

Gap raises guidance ahead of holidays after storms, warm weather slowed sales

Hurricanes and unseasonably warm weather hit sales at Gap during its fiscal third quarter, but the apparel company still posted better than expected results, leading it to raise its annual guidance for a third time this year.  Gap, which runs Old Navy, Banana Republic, Athleta and its namesake banner, is now expecting fiscal 2024 sales […]

Read More
Crypto investor pays  million for a banana — and plans to eat it
Business

Crypto investor pays $6 million for a banana — and plans to eat it

A version of this article first appeared in CNBC’s Inside Wealth newsletter with Robert Frank, a weekly guide to the high-net-worth investor and consumer. Sign up to receive future editions, straight to your inbox. Crypto investor Justin Sun paid $6.2 million for a banana duct-taped to a wall, highlighting the soaring values of crypto and viral art. […]

Read More
SailGP signs Rolex as first title partner of global sailing competition
Business

SailGP signs Rolex as first title partner of global sailing competition

SailGP signs Rolex as first title partner of global sailing competition Courtesy: SailGP The self-described Formula 1 of sailing has signed Rolex as the first title partner of its elite sailboat racing competition. SailGP, which kicks off the 2025 season in Dubai on Saturday, will now be known as the “Rolex SailGP Championship.” “Leading into […]

Read More