Boeing Promotes Veteran Steve Parker To Lead Its Defense, Space Businesses, Stock Inches Up

Aircraft manufacturing giant Boeing Co. (BA) has promoted Stephen Parker to the role of president and CEO of its Defense, Space & Security (BDS) unit, the company announced Tuesday. 

Parker, who has been acting in the position since September 2024, will assume the role immediately and report to Boeing’s Chief Executive Officer (CEO), Kelly Ortberg.

Following the news, Boeing stock inched 0.1% higher in afternoon trading on Tuesday.

The veteran Boeing executive will also join the company's Executive Council, assuming the leadership of one of the aerospace giant’s most critical business units, which provides advanced technology and services to military, space, and intelligence customers worldwide.

Parker previously served as the Chief Operating Officer (COO) for BDS, where he managed key operational sectors including safety, supply chain logistics, and quality control. 

Before his COO tenure, Parker oversaw major divisions like Bombers & Fighters and Vertical Lift, contributing to the development of multiple advanced defense platforms. He also led Boeing Defence Australia, the company's largest overseas operation.

With a Boeing career dating back to 1988, Parker’s appointment comes as Boeing’s defense arm navigates increasing global demand for military and space systems amid rising geopolitical tensions.

On Monday, the company announced that Jay Malave, former Chief Financial Officer (CFO) of Lockheed Martin, will assume the role of CFO for the aircraft manufacturer, effective August 15. 

The Chicago-based aerospace giant remains one of the largest U.S. exporters, serving over 150 countries with aircraft, defense systems, and space technologies.

On Stocktwits, retail sentiment towards Boeing remained ‘bearish’ with ‘low’ levels of message volume.

Boeing stock has gained over 18% year-to-date and over 12% in the last 12 months. 

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