Monday, September 23, 2024

Boeing | Boeing Defence Head Ted Colbert to leave the company

 Ted , the head of Boeing's Defence, Space & Security division, has been let go with immediate effect. Steve Parker, the division's Chief Operating Officer, will temporarily assume the role while a search for a permanent replacement is conducted.

This leadership change comes as  grapples with significant challenges, including  strain and issues with several high-profile contracts. The new , Kelly Ortberg, has emphasised the need to rebuild customer trust and improve performance. Colbert's dismissal coincides with Boeing's efforts to conserve cash, including furloughs announced amid a strike by more than 32,000 workers.

In the most recent quarter, Boeing's Defence, Space & Security division recorded a loss of US$913 million, up from the US$527 million loss in the same quarter the previous year, following a narrow profit in the . The division posted an annual loss of US$1.8 billion in 2023, an improvement from 2022. However, both the second quarter loss and the 2023 full-year loss exceeded those of Boeing's troubled commercial aircraft unit for the same periods.


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