Ted Colbert, CEO of Boeing’s Defense, Space & Security unit, is stepping down effective immediately, the company announced Friday. Steve Parker, the unit’s COO, will assume Colbert’s responsibilities on an interim basis until a permanent successor is named.
Colbert, who spent 15 years at Boeing, exits at a challenging time for the company. Boeing’s defense division reported a $913 million loss in the most recent quarter, up from $527 million a year earlier, and has faced continued financial difficulties alongside ongoing strikes involving over 32,000 workers.
Boeing CEO Kelly Ortberg expressed gratitude for Colbert’s service and emphasized the company’s commitment to restoring customer trust and improving performance. Boeing’s shares closed down 1% on Friday, contributing to a 41% decline for the year.
🚨BREAKING: BOEING DEFENSE CEO TED COLBERT TO STEP DOWN
Boeing announced the departure of Ted Colbert, president and CEO of Boeing Defense, Space & Security (BDS), amid significant financial pressures and recent failures.
Boeing CEO Kelly Ortberg thanked Colbert for his 15… pic.twitter.com/u3hfA74Lw8
— Mario Nawfal (@MarioNawfal) September 20, 2024
Boeing CEO Kelly Ortberg thanked Colbert for his 15 years of service.
Steve Parker will temporarily oversee BDS operations.
Boeing faces scrutiny following issues with its 737 Max 9 aircraft and delays with the Starliner spacecraft.
Additionally, Boeing workers recently voted to strike after rejecting a proposed contract.
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