Relevance: primary · Type: event
Confidence100%
Kelly Ortberg became CEO of Boeing in August 2024.
Relevance: supporting · Type: background
Confidence100%
Before Ortberg’s appointment, Boeing faced a crisis following the Lion Air and Ethiopian Airlines 737 Max crashes in 2018 and 2019 that killed 346 passengers and crew.
Relevance: supporting · Type: event
Confidence100%
In January 2024, a 737 Max door-plug blowout occurred over Portland, Ore.
Relevance: supporting · Type: action
Confidence100%
Federal regulators froze 737 Max production at a level one-third below its prior peak.
Relevance: supporting · Type: background
Confidence100%
Boeing’s defense and space division reported multi-billion-dollar losses on federal contracts with significant cost overruns.
Relevance: supporting · Type: action
Confidence100%
Boeing agreed to re-acquire Spirit AeroSystems, its former fuselage supplier, increasing its future risk profile.
Relevance: supporting · Type: background
Confidence100%
Boeing faced a potential strike from 33,000 machinists in the Puget Sound area.
Relevance: supporting · Type: background
Confidence90%
Boeing reportedly approached Larry Culp of GE Aerospace, Dave Gitlin of Carrier Global, and chairman Steve Mollenkopf for the CEO role before appointing Ortberg.
Relevance: supporting · Type: background
Confidence100%
Ortberg served as CEO of Rockwell Collins for five years.
Relevance: supporting · Type: background
Confidence100%
United Technologies acquired Rockwell Collins in 2018, and it was later sold to RTX less than two years afterward.
Relevance: supporting · Type: background
Confidence100%
Ortberg retired after Rockwell Collins was sold to RTX and had not held an operating role for over four years before becoming Boeing CEO.
Relevance: primary · Type: action
Confidence100%
Ortberg reinstated an 'engineering-first' culture at Boeing, shifting away from a prior focus on share buybacks and reduced investment in innovation between 2014 and 2018.
Relevance: primary · Type: action
Confidence100%
Ortberg is pursuing win-win agreements with suppliers, contrasting with Boeing’s previous practice of imposing aggressive pricing terms.
Relevance: supporting · Type: background
Confidence100%
Richard Safran, an analyst at Seaport Securities, worked with Ortberg at Rockwell Collins as a young engineer.
Richard Safran, analyst at Seaport Securities
Relevance: supporting · Type: quote
Confidence100%
"He’s a Midwesterner who takes the ‘no decision before its time’ approach. He’s methodical about checking all the boxes one after another. He’s such a good engineer that he knows just enough about everyone’s job to be dangerous. And he knows how to make money."
Relevance: supporting · Type: quote
Confidence100%
"He’s set a new tone in the place. He measures people not just on what they do, but how they do it. You need to reach out and get feedback from colleagues. His approach calls for tying pay and promotions to how people treat and respect one another, in addition assessing their work. Are there still people in senior places who don’t treat people well? Yes, but it’s a good start."
Relevance: supporting · Type: quote
Confidence100%
"He’s a good listener with high EQ. His theme is getting Boeing back to what it needs to be."
Relevance: primary · Type: event
Confidence100%
A strike by mechanics began within a month of Ortberg’s arrival as CEO, reducing 737 MAX production to nearly zero.
Relevance: primary · Type: action
Confidence100%
Ortberg raised over $24.3 billion in new capital to cover expected losses and strengthen Boeing’s balance sheet.
Relevance: primary · Type: event
Confidence100%
The mechanics strike lasted 53 days and was resolved by Ortberg.
Relevance: primary · Type: event
Confidence100%
In March 2025, Boeing won the U.S. Air Force’s Sixth Generation fighter program contract, defeating Lockheed Martin.
Relevance: supporting · Type: background
Confidence100%
Boeing’s defense and space division reported an operating loss of over $5.4 billion in 2024.
Relevance: primary · Type: event
Confidence100%
Boeing’s defense and space division turned slightly profitable in 2025 and earned $233 million in Q1 2026, achieving an operating margin of 3.1%.
Relevance: primary · Type: action
Confidence100%
Under FAA supervision, Boeing began revamping manufacturing safety measures after the 737 Max crashes, and Ortberg accelerated this effort.
Relevance: primary · Type: event
Confidence100%
The FAA raised the monthly production cap for the 737 Max from 38 to 42 aircraft.
Relevance: primary · Type: action
Confidence100%
Ortberg expects Boeing to produce 52 737 Max aircraft per month by the end of 2026.
Relevance: primary · Type: action
Confidence100%
Ortberg predicts Boeing will achieve $10 billion in free cash flow.
Relevance: supporting · Type: background
Confidence90%
Analysts Scott Mikus and Richard Safran believe Boeing will reach $10 billion in free cash flow by around 2028.
Jesus Malave, CFO
Relevance: primary · Type: quote
Confidence100%
"I think the potential for our cash flow supports being above $10 billion."
Relevance: supporting · Type: background
Confidence100%
Boeing generated its highest cash flow in 2017 and 2018 through strategies that reduced R&D and workforce spending as a share of sales.
Michael Leskinen, CFO of United Airlines
Relevance: supporting · Type: quote
Confidence100%
"Boeing’s doing a pretty miraculous job of turning around."
Scott Mikus, analyst at Melius Research
Relevance: supporting · Type: quote
Confidence100%
"Boeing found its change-agent in Ortberg. Thanks to Ortberg, the dream of a great industrial company is still alive."
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