Shares of Boeing rose slightly by 1pc on news that aerospace veteran Robert “Kelly” Ortberg, former CEO of Rockwell Collins, will replace retiring CEO Dave Calhoun.
Shares are down 28pc year to date as Boeing reported a core operating loss of $1.4bn in the second quarter, more than triple the loss from a year ago, due to increased scrutiny on safety and quality
Ortberg is recognized for his engineering background and industry expertise, and his appointment has been generally praised by analysts
Boeing faces challenges including ongoing safety and quality issues, potential strike by workers, losses in defence business, and problems with Starliner and Air Force One programmes.
