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Boeing Co. said that Ted Colbert, who oversees its defence and space division, is leaving the company — the first major personnel move made by Kelly Ortberg since he took over as chief executive officer last month.
Steve Parker, the defence unit’s chief operating officer, will take over the struggling business on an interim basis, the company said.
Once a steady financial performer, the division has struggled with cost overruns on fixed price contracts and was buffeted by negative headlines for the Starliner space capsule after NASA opted not to use it to bring two astronauts back from the International Space Station.
The shake-up comes a week after Brian West, Boeing’s Chief Financial Officer, told an investor conference that the defense business’s would again drag on company earnings in the third quarter, posting losses in line with the nearly $1 billion operating loss it posted a quarter earlier.
More stories like this are available on bloomberg.com
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