Amid the company's turnaround strategy, Boeing has appointed Jay Malave as its executive vice president and chief financial officer on June 30, 2025.
Malave was most recently CFO of Lockheed Martin since 2022.
Boeing's current CFO Brian West will become a senior advisor to Boeing president and CEO Kelly Ortberg. Both roles are effective August 15.
This follows the adjustment to its leadership in February this year, with Stephanie Pope no longer serving as its chief operating officer, though she continued to serve as president and CEO of Boeing Commercial Airplanes. Last year, Boeing CEO Dave Calhoun departed the company last year amid a myriad of challenges for the company. Ortberg assumed the role of chief executive in August.
“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 and ensured our team always had the resources to continue the critical work to strengthen safety and quality across our operations," said Ortberg.
Malave will lead Boeing's financial strategy, reporting, long-range business planning, investor relations, treasury, controller and audit operations as well as enterprise services, which includes global real estate and facilities. Prior to Lockheed Martin, he held positions of senior vice president and CFO at L3Harris Technologies. He spent more than 20 years at United Technologies Corporation, including serving as vice president and CFO of Carrier Corporation when it was an operating unit of UTC, and vice president and CFO at UTC Aerospace Systems.
The same day, Fitch Ratings revised the company's outlook to stable from negative and affirmed its BBB- rating.
“The outlook revision to stable reflects Fitch's view that the post-strike production ramp and enhanced financial flexibility, including the announced Jeppesen sale, have reduced downgrade risks and support the 'BBB-' rating,” Fitch read in its report.
The agency added that it expects Boeing to continue reducing its gross debt, including the repayment of all $7.95bn 2026 notes at maturity.
Boeing also appointed Stephen Parker as its CEO of Defence, Space & Security business. Parker has over 37 years of experience at Boeing. He has served as interim leader of the Boeing business unit since September 2024.