Boeing has appointed Robert 'Kelly' Ortberg, 64, as its new CEO effective August 8, following a challenging year for the company.

Ortberg previously led Rockwell Collins before it merged with RTX, bringing significant aerospace experience to Boeing.

His selection follows a comprehensive search process, during which Boeing waived its mandatory retirement age, similar to the case with outgoing CEO Dave Calhoun.

Ortberg's appointment signals a potential shift in Boeing's leadership focus from financial management to engineering and industrial expertise.

Boeing is currently searching for a new chief executive following the resignation of Dave Calhoun, who plans to step down by the end of the year.

Boeing reported a loss of over $1.4 billion in the second quarter of 2023, with revenue falling 15% compared to the previous year.

Earlier this month, Boeing pleaded guilty to criminal liability over two 737 Max crashes in 2021, with whistleblowers alleging a history of prioritizing profits over safety.

Boeing has been facing a reputational and safety crisis, exacerbated by a January 5 mid-air incident involving an Alaska Airlines-operated MAX 9 jet.

Boeing's CFO indicated that the company will experience cash burn in 2024 due to lower jet deliveries compared to the previous year.

Ortberg plans to be based in Seattle, which will enhance his proximity to Boeing's production facilities, notably those of the 737 Max.

Boeing has been struggling against competitors like Airbus in the medium-haul market and is at risk of losing ground in the long-haul aircraft sector as well.

Despite these challenges, Boeing secured substantial orders at the Farnborough Airshow, including an $8.8 billion deal with Qatar Airways for 20 additional 777X aircraft.