Boeing’s CFO Change Indicates a Significant Effort to Turn Things Around. On June 30, Boeing declared that, starting of August 15, Jesus “Jay” Malave, a former CFO at Lockheed Martin, will take Brian West’s post as Chief Financial Officer. During the leadership shift, West, who has led Boeing through a difficult time, including a $24 billion capital raising, will take on an advisory position to assist CEO Kelly Ortberg.
Malave Contributes Extensive Aerospace Finance Knowledge
Malave brings a wealth of aerospace and defence finance expertise to Boeing, having served as CFO of Lockheed for more than three years and before at L3Harris and United Technologies/Pratt & Whitney. He will be in charge of enterprise services, audit, treasury operations, investor relations and long-term planning.
Modification to a Broad C-Suite Reorganisation
Since Ortberg took over as CEO in August 2024, this CFO appointment is the most prominent change in the company’s leadership. In an attempt to stabilise operations and rebuild public confidence, Ortberg reorganised Boeing’s senior levels, as evidenced by the earlier appointment of Stephen Parker as the permanent head of the company’s Defence, Space & Security division news.
Obstacles Ahead Due to Safety Oversight Issues
The leadership change coincides with continued production and safety concerns, as well as heightened scrutiny after the June disaster of a Boeing 787-8 Dreamliner in India. Analysts are closely monitoring whether Malave’s financial stewardship can support Ortberg’s operational transformation, even as Boeing’s shares stayed unchanged following the news.
