Boeing Revamp: Longtime Executive Stephen Parker To Permanently Head Struggling Defence Unit

Last Updated:July 02, 2025, 00:27 IST

Acting chief Stephen Parker's appointment will be effective immediately and he will serve as president and chief executive officer of Boeing Defense, Space & Security

Boeing's defence division has been beset with hefty losses connected to rigid fixed-price contracts with the Pentagon. (Image: AFP/File)

Boeing has tapped longtime executive and acting chief Stephen Parker as a permanent chief to its embattled defence and space division, a day after it announced that it was recruiting a Lockheed Martin executive as its next CFO.

Parker’s appointment will be effective immediately and he will serve as president and chief executive officer of Boeing Defense, Space & Security. The appointments come as Kelly Ortberg nears his first anniversary as Boeing’s CEO in August, following commercial aviation safety problems and space programme difficulties.

Ortberg said in a statement that under Parker, “our defense business has stabilised its operations, improved programme execution and strengthened relationships with our customers". He had named Parker interim head in September 2024 shortly after joining the company.

Boeing’s defence division has been beset with hefty losses connected to rigid fixed-price contracts with the Pentagon on projects that suffered significant delays and cost overruns. The division has also been responsible for the struggling Air Force One presidential plane programme.

The appointment of Parker followed Boeing’s announcement on Monday (July 1) that Jesus “Jay" Malave will join as chief financial officer (CFO) on August 15. Brian West, who is the current CFO, will transition to a senior adviser to Ortberg, as per an announcement.

Malave was most recently CFO of Lockheed Martin and previously held top posts at United Technologies. Ortberg has reported progress on improving safety management at Boeing, but has said completely turning around the company’s culture will take time. Shares of Boeing rose 0.6 percent in early trading.

(With AFP inputs)

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News business Boeing Revamp: Longtime Executive Stephen Parker To Permanently Head Struggling Defence Unit