Brian West is leaving the post in mid-August and will be succeeded by former Lockheed Martin Corp. executive Jesus "Jay" Malave.
Boeing Co. said Chief Financial Officer Brian West, who helped orchestrate one of the biggest capital raises in US corporate history last year to steady the crisis-stricken planemaker, is stepping down.
West is leaving the post in mid-August and will be succeeded by former Lockheed Martin Corp. executive Jesus "Jay" Malave. West will remain an adviser to Chief Executive Officer Kelly Ortberg, Boeing said in a statement on Monday.
Both moves are effective August 15, the company said.
The leadership change marks the highest-profile personnel switch since Ortberg took over the top role at the planemaker last year. West helped Ortberg navigate a capital squeeze and avoid a possible ratings downgrade to junk status, brought on by a crippling strike last year and a steep slowdown in output after a near-catastrophic accident.
"I just felt like it was the right timing to pass the baton," West said in an interview. "The balance sheet is much stronger, operating performance is better, outlook is very encouraging."
Boeing shares rose 0.3% after the close of the regular trading session in New York, paring an earlier 2.3% loss. The stock has gained 18% so far this year.
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