Boeing Co (NYSE:BA) shares are getting a slight bump in after-hours trading Monday after the company announced a CFO transition plan.
What Happened: After the market close on Monday, Boeing announced that Jesus “Jay” Malave has been elected as incoming executive vice president and CFO. Current CFO Brian West, who has been CFO for the past four years, will transition to become a senior advisor to Boeing President and CEO Kelly Ortberg.
“These past few years have been some of the most consequential in Boeing’s history, and Brian successfully guided us through last year’s historic capital raise and ensured our team always had the resources to continue the critical work to strengthen safety and quality across our operations. I look forward to his continued counsel in his new role,” Ortberg said.
Malave, who is the former CFO of Lockheed Martin and L3Harris, will lead Boeing’s financial strategy, reporting, long-range business planning and investor relations.
The news comes after Boeing shares fell about 2.32% during Monday’s regular session following reports U.K. antitrust regulators launched a formal investigation into the company’s planned $4.7 billion acquisition of fuselage maker Spirit AeroSystems.
In July 2024, Boeing signed a deal to acquire Spirit, which has been at the center of quality concerns related to the company’s 737 Max
BA Price Action: Boeing shares were down 0.014% in Monday’s after-hours session, trading at $209.50 at the time of publication, according to Benzinga Pro.
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