Boeing defense head Colbert to depart in first executive change for new CEO
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Boeing (NYSE:BA) said Friday that Ted Colbert, head of its defense, space and security division, will leave the company effective immediately, in the first major personnel move made by CEO Kelly Ortberg since he assumed the role last month.
Steve Parker, COO for the defense unit, will run the struggling business on an interim basis, the company said.
The shakeup comes a week after Boeing (BA) CFO Brian West said the defense unit would continue to drag on company earnings in Q3, matching the nearly $1B operating loss reported in the previous quarter.
The division has struggled with cost overruns on fixed price contracts and was hit by negative headlines when NASA chose not to use the Starliner space capsule to bring two astronauts back from the International Space Station.