.July 31, 2024 05:36:00 PM

Boeing’s shares rose by 2% despite lower-than-expected earnings and revenue after announcing Kelly Ortberg as the new President and CEO, effective August 8, 2024. Ortberg will succeed Dave Calhoun, who announced his retirement earlier this year. Ortberg brings over 35 years of aerospace leadership experience, starting as an engineer at Texas Instruments in 1983 and eventually becoming president and CEO of Rockwell Collins in 2013. He has also served as the Chair of the Aerospace Industries Association (AIA) Board of Governors, highlighting his industry expertise.