Boeing said in March that its current CEO David Calhoun would step down by the end of the year.
ADVERTISEMENTA long-term industry executive is to take over as chief executive of the troubled aircraft manufacturer next week, Boeing has announced as it revealed a loss of more than $1.4 billion (€1.3 billion) in the second quarter of 2024.
Robert "Kelly" Ortberg, a 64-year-old former CEO at aerospace supplier Rockwell Collins, will succeed David Calhoun as CEO, the company said.
Ortberg, who only emerged recently as a leading candidate, will become CEO and president on 8 August, Boeing said.
Others who were reportedly considered for the job included Patrick Shanahan, a former Boeing executive and now CEO of its most important supplier, Spirit AeroSystems, and another longtime Boeing executive, Stephanie Pope, who recently took over the commercial-planes division.
Chairman Steven Mollenkopf said Ortberg was chosen after "a thorough and extensive search process" and "has the right skills and experience to lead Boeing in its next chapter."
Ortberg has earned a reputation for running complex engineering and manufacturing companies, Mollenkopf said.
Shares rose more than 2% before Wednesday's after the news was released.
Boeing's loss was wider and revenue lower than Wall Street expected. Revenue fell 15% from a year earlier, and both its commercial-planes business and defence unit lost money.
The disappointing results come at a tumultuous time for Boeing. The company agreed to plead guilty to fraud in connection with the Max, two of which crashed, killing 346 people.
The Federal Aviation Administration has increased its overseeing of the company following a number of problems, including the blowout of a panel on an Alaska Airlines jet.
It denies whistleblower allegations of manufacturing shortcuts that cut back on safety.
The company is dealing with supply-chain problems that are hindering production, which it hopes to fix in part by re-acquiring Spirit AeroSystems, a key contractor.
It is still trying to persuade regulators to approve two new models of the Max and a bigger version of its two-aisle 777 jetliner.
It is also facing a multi-billion-dollar decision on when to design a new single-aisle plane to replace the Max.
