Boeing's New CEO Moves to Seattle to Address Safety Crisis

Boeing’s (BA) new CEO, Kelly Ortberg, announced that he will be based in Seattle, moving closer to the factory floor to address the ongoing safety crisis. This decision follows months of pressure on Boeing to reconnect with its industrial roots after a door plug fell off a 737 MAX jet in mid-air. Ortberg, former CEO of Rockwell Collins, plans to spend his first day meeting workers in Renton, Washington, and is committed to "restoring trust" in Boeing. Ortberg's immediate priorities include boosting the production of MAX jets and securing a labor deal to avoid a possible strike. He also aims to address the supply-chain issues affecting the 787 Dreamliner. The CEO's move is seen as a positive step by airline industry executives who are urging him to prioritize timely plane deliveries. Ortberg's commitment to safety and quality is underscored by his plan to visit key suppliers and address recent safety concerns. Market Overview:

• Boeing's new CEO, Kelly Ortberg, moves to Seattle to address safety crisis.
• Ortberg's priorities include boosting MAX jet production and securing a labor deal.
• Airline executives emphasize the need for timely plane deliveries.

Key Points:

• Ortberg plans to increase MAX jet output to 38 planes a month by year-end.
• Visit to key supplier Spirit AeroSystems (SPR) scheduled for next week.
• Commitment to restoring trust by meeting safety and quality commitments.

Looking Ahead:

• Monitoring the impact of Ortberg's leadership on Boeing's production and safety.
• Potential outcomes of the NTSB probe into the 737 MAX 9 incident.
• Future developments in Boeing's commercial and defense operations.

Ortberg's move to Seattle is part of a broader effort to reconnect with Boeing’s industrial base and address the critical issues facing the company. The CEO's focus on meeting commitments and enhancing safety and quality is expected to positively impact Boeing’s operations. The upcoming visit to Spirit AeroSystems and ongoing discussions with suppliers and regulators are crucial steps in this process. The recent 737 MAX 9 incident and the extended mission of NASA’s Starliner astronauts highlight the challenges Boeing faces. Ortberg's leadership will be closely watched as he works to restore trust and ensure the company's long-term success. The aviation industry will be keenly observing how these efforts translate into improved production timelines and safety standards.