Boeing (NYSE: BA) has announced a change in its chief financial officer (CFO) role. Brian West, who served as CFO for the last four years, will transition to become a senior advisor to Boeing President and CEO Kelly Ortberg, effective August 15. Jesus “Jay” Malave has been elected as the incoming executive vice president and CFO, also effective August 15.
During West's tenure as CFO, he successfully guided the company through last year’s historic capital raise and ensured the team always had the resources to continue the critical work to strengthen safety and quality across operations.
Malave, the incoming CFO, 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. He will report to Ortberg and serve on the company’s Executive Council. Malave brings decades of experience developing people and teams across complex aerospace and manufacturing businesses.
Malave was most recently CFO of Lockheed Martin and previously held the 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.
Boeing, a leading global aerospace company and top U.S. exporter, develops, manufactures, and services commercial airplanes, defense products, and space systems for customers in more than 150 countries. The company is committed to fostering a culture based on its core values of safety, quality, and integrity. As a result of these announcements, the company's shares have moved 1.83% on the market, and are now trading at a price of $215.92. For the full picture, make sure to review BOEING CO's 8-K report.
