Boeing Names Former Lockheed Exec Jay Malave As CFO In Leadership Shakeup

Boeing (BA) stock is expected to garner retail attention on Tuesday after the company said former Lockheed Martin Chief Financial Officer Jay Malave will become the planemaker’s new CFO, effective Aug. 15.

Malave will replace CFO Brian West, who will transition to an advisory role after spending four years in his current position.

"These past few years have been some of the most consequential in Boeing's history, and Brian successfully guided us through last year's historic capital raise,” CEO Kelly Ortbeg said.

Malave is a veteran of the aerospace and defense industry with previous stints at engine maker Pratt and Whitney and L3Harris Technologies. He will oversee Boeing's financial strategy, reporting, long-range business planning, investor relations, treasury, controller, and audit operations.

He joins Boeing at a time when the planemaker is trying to ramp up production and address quality issues under Ortberg after several high-profile incidents surrounding its aircraft. The planemaker reported a loss of $11.8 billion in 2024, its largest since 2020, as a cap on production by regulators and a crippling strike at its facilities weighed in.

Last year, the company raised approximately $24 billion through equity sales to strengthen its cash position. West played a key role in the offering, also ensuring Boeing’s credit rating is not downgraded to junk.

Retail sentiment on Stocktwits was in the ‘bearish’ (41/100) territory, while retail chatter was ‘low’ at the time of writing.

Separately on Monday, ratings agency Fitch upgraded its rating on Boeing debt to ‘Stable’ from ‘Negative’ due to improvements in production as well as the $24 billion capital raise and the sale of the planemaker’s Jeppesen unit.

However, its attempts to buy supplier Spirit Aerosystems could come under threat after the UK’s competition watchdog suggested that the deal would face antitrust scrutiny. Boeing stock has risen over 17% this year.

Also See: Bombardier Scores $1.7B Contract Win For Business Jets, Services

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