Boeing names new CEO as it posts loss of more than $1.4 billion in second quarter

AP Airlines Writer

Boeing has a new CEO. The company said Wednesday that aerospace industry veteran Robert “Kelly Ortberg will take over as CEO next week, replacing David Calhoun. Boeing is announcing the new CEO as it reports a loss of more than $1.4 billion in the second quarter. The loss was wider and revenue was lower than Wall Street expected. Revenue fell 15% from a year earlier, and both Boeing’s commercial-airplanes business and defense unit lost money. The disappointing results come at a tumultuous time for Boeing. The company agreed to plead guilty this month to a federal fraud charge in connection with its 737 Max jetliner and two crashes that killed 346 people.