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Boeing has tripled its losses within a year and reported a second-quarter loss of more than $1.4bn as it announced a new CEO in a bid to turn around its struggling finances.
The embattled aerospace company has brought in Kelly Ortberg, 64, the former chief executive of supplier Rockwell Collins, whose position is expected to become effective on August 8. The new hire comes following the resignation of former CEO David Calhoun in March.
Calhoun noted that Boeing had a “challenging quarter,” he said in an earning’s release, but added the business is making “substantial progress” as it plan for the future.
“I’m extremely honored and humbled to join this iconic company,” Ortberg said in a statement from the company on Wednesday.
“Boeing has a tremendous and rich history as a leader and pioneer in our industry, and I’m committed to working together with the more than 170,000 dedicated employees of the company to continue that tradition, with safety and quality at the forefront.”
Boeing’s core operating loss has tripled from a year ago, as the concerns surrounding the safety of its planes have kept the embattled company from being profitable.
The company’s loss was greater and its revenue – which was down 15 per cent for three months ended June 30 – lower than Wall Street analysts anticipated.
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News Summary:
- Boeing reports $1.4m losses as embattled aerospace giant is rocked by safety scandals
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