Boeing taps Kelly Ortberg as new CEO, reports wider-than-expected Q2 loss and revenue miss

Category: Business

Boeing appointed Kelly Ortberg as its new president and CEO, replacing Dave Calhoun, amid a challenging financial landscape marked by a wider-than-expected second quarter loss and significant revenue decline. The company reported a core operating loss of $1.392 billion and a negative free cash flow of $8.256 billion for the first half of the year. Deliveries of commercial jets fell by 32%, and Boeing's stock has dropped over 25% this year. The company is also facing legal challenges related to past safety issues.

Keywords: Boeing, CEO appointment, financial loss

Source: Yahoo Finance

Update At: 7/31/2024

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