Boeing is currently navigating a significant leadership transition as Kelly Ortberg, the new CEO who took over in August 2024, makes his first executive moves. One of his initial actions was the immediate exit of Ted Colbert, the head of Boeing's space and defense unit. Steve Parker, the Chief Operating Officer, will assume Colbert's responsibilities as the company aims to restore customer trust and improve overall performance. This leadership change comes at a time when Boeing is facing numerous challenges, including production issues and financial struggles. The Starliner capsule, which was intended for crewed missions, returned without astronauts, leading to over $1.6 billion in cost overruns since 2016. Additionally, Boeing has announced furloughs amid a strike involving over 32,000 workers, further complicating its operational landscape. In July, Boeing pleaded guilty to a criminal fraud conspiracy charge, agreeing to pay $243.6 million, which has added to the scrutiny the company faces from regulators. The Federal Aviation Administration (FAA) has tightened oversight, limiting the production of the 737 MAX, a model that has already been under pressure due to production delays. Furthermore, Boeing's defense unit reported significant losses in 2022 and 2023 due to ongoing cost overruns, and the company's shares have plummeted by 41% in 2024. Ortberg's leadership will be critical in addressing these multifaceted challenges and steering Boeing back towards stability and growth [e4dd6444].