By Free Republic | Created at 2024-09-23 14:48:44 | Updated at 2024-09-30 13:22:09
6 days ago
Boeing defense chief Ted Colbert pushed out
Breaking Defense ^ | September 20, 2024 at 5:43 PM | Valerie Insinna
Posted on 09/23/2024 7:40:36 AM PDT by Fish Speaker
WASHINGTON — Ted Colbert, chief executive of Boeing’s defense unit, exited the company today effective immediately amid the unit’s continued poor performance and crippling financial losses.
Steve Parker, Boeing defense’s chief operating officer, will take on leadership at the unit while the company seeks out a permanent replacement, Boeing CEO Kelly Ortberg said in a memo to employees.
“I want to thank Ted for his 15 years of service at The Boeing Company, supporting our customers, our people and our communities,” Ortberg said in the memo.
“At this critical juncture, our priority is to restore the trust of our customers and meet the high standards they expect of us to enable their critical missions around the world,” Ortberg said. “Working together we can and will improve our performance and ensure we deliver on our commitments.”
Colbert’s ouster comes just a week after Boeing Chief Financial Officer Brian West, speaking to investors at a financial conference, disclosed that margins at the defense unit would be negative during the third quarter amid continued difficulties reversing cost overruns from fixed-priced defense contracts, as well as newly discovered production challenges on the F-15EX and F/A-18 Super Hornet.
(Excerpt) Read more at breakingdefense.com ...
TOPICS: Business/Economy; Government; News/Current Events
KEYWORDS: boeing; fixpriced; losses
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I don't know if cleaning house is going to make a difference. Boeing's goodwill is almost worthless at this point.
1 posted on 09/23/2024 7:40:36 AM PDT by Fish Speaker
To: Fish Speaker
How do you not make money will you are billing Fed.gov?
2 posted on 09/23/2024 7:41:42 AM PDT by PGR88
To: Fish Speaker
Boeing defense chief Ted Colbert pushed out
"Must be a Board Meeting."
3 posted on 09/23/2024 7:42:28 AM PDT by dfwgator (Endut! Hoch Hech!)
To: Fish Speaker
A few years back, Boeing fired several thousand quality control people as a cost savings measure. It shows.
To: Fish Speaker
Has he ever been to P Diddy Freak Off ? 🤔🙄😂
5 posted on 09/23/2024 7:45:27 AM PDT by OldHarbor
To: 17th Miss Regt
Watch them commit to using AI to control quality. Then they will spend billions on systems that don’t work any better.
Wanna bet?
6 posted on 09/23/2024 7:45:34 AM PDT by MMusson ( )
To: Fish Speaker
“I want to thank Ted for his 15 years of service at The Boeing Company, supporting our customers, our people and our communities,” Ortberg said in the memo.
“At this critical juncture, our priority is to clean up the mess that stupid SOB left us with, and start making things that work properly.
7 posted on 09/23/2024 7:45:50 AM PDT by NorthMountain (... the right of the people to keep and bear arms shall not be infringed)
To: Fish Speaker
8 posted on 09/23/2024 7:46:00 AM PDT by dfwgator (Endut! Hoch Hech!)
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