Microvast Holdings announces departure of chief financial officer
ARLINGTON, Va. - Boeing (NYSE:BA) announced on Tuesday that Stephen Parker has been appointed president and chief executive officer of its Defense, Space & Security business, effective immediately. Parker, who has been serving as interim leader of the unit since September 2024, will report to Boeing President and CEO Kelly Ortberg.
Prior to this appointment, Parker was the chief operating officer of the Defense, Space & Security business, where he oversaw day-to-day operations including quality, manufacturing, safety, supply chain and program management. His previous roles at Boeing included leadership positions in the Bombers & Fighters and Vertical Lift divisions.
"Under Steve’s leadership, our defense business has stabilized its operations, improved program execution and strengthened relationships with our customers," Ortberg said in a press release statement.
Parker, who joined Boeing in 1988, also previously managed Boeing Defence Australia, the company’s largest subsidiary outside the United States. In his new role, he will oversee all aspects of the business unit that provides technology, products and solutions for defense, government, space and intelligence customers worldwide.
The Defense, Space & Security unit is one of Boeing’s major business segments, alongside Commercial Airplanes and Global Services. Parker will also serve on Boeing’s Executive Council as part of his new responsibilities.
In other recent news, Boeing has announced a significant change in its executive lineup, with Jesus "Jay" Malave set to replace Brian West as the company’s chief financial officer starting August 15. Malave, who previously held financial leadership roles at Lockheed Martin and United Technologies Corporation, will guide Boeing’s financial strategy and operations. Meanwhile, Fitch Ratings has revised Boeing’s outlook from Negative to Stable, affirming its Long-Term Issuer Default Rating at ’BBB-’. This revision reflects Boeing’s improved financial flexibility and production ramp-up, including the sale of Jeppesen for $10.55 billion. Redburn-Atlantic has upgraded Boeing’s stock rating from neutral to buy, citing the company’s improved financial health and production outlook, particularly for the 737 and 787 aircraft. Additionally, Boeing has appointed Steve Sullivan, a former Northrop Grumman executive, to lead its Air Force One program amid ongoing challenges. In another development, the U.S. National Transportation Safety Board is anticipating updates from India on the investigation into the recent Air India Boeing 787 crash. These developments highlight Boeing’s ongoing efforts to strengthen its operational and financial standing.
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