Boeing appoints former Lockheed Martin CFO Jay Malave as new finance chief

Malave will succeed Brian West, who will stay on in an advisory role

Malave is expected to help a broader transformation to restore the company's reputation and ramp up jet production / LinkedIn/ @Jay Malave

Boeing Co said on June 30 it had appointed former Lockheed Martin executive Jesus 'Jay' Malave as the planemaker's new CFO, effective Aug. 15.

He will succeed Brian West, who will stay on in an advisory role, Boeing said.

West joined Boeing in 2021 and oversaw its finances through a turbulent period, marked by mounting debt and delivery delays.

The appointment comes as the planemaker undergoes a broader transformation to restore its reputation and ramp up jet production under current CEO Kelly Ortberg.

A Boeing investor said the move was not a surprise, as CEO Kelly Ortberg had signaled an openness to changing upper management in Apr.

Malave, who has held senior finance roles at L3Harris Technologies and United Technologies, exited defense contractor Lockheed Martin in Apr.

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