Shares of Boeing are trading down over 20% in the past year and over 40% in the last five years.
Calhoun, the CEO of Boeing since 2020, announced in March that he would leave the company by year’s end.
Who Is Kelly Ortberg?: A Dubuque native, Ortberg graduated from the University of Iowa in 1982 with a degree in mechanical engineering.
According to business think-tank The Conference Board, Ortberg began his career as a program manager at Rockwell Collins. He ascended within the company to become the chief operating officer of the company’s Government Systems business and chief operating officer of its Commercial Systems business.
He then became chairman, president and CEO of Rockwell Collins. United Technologies acquired Rockwell Collins in 2018. Ortberg became CEO of the newly minted Collins Aerospace from 2018 to 2020. He retired in 2021.
Ortberg led Rockwell Collins through two large acquisitions: the purchase of ARINC in 2013 and B/E Aerospace in 2017.
Steven Mollenkopg, chair of Boeing’s board, elaborated on the hiring process that landed on Ortberg.
“The Board conducted a thorough and extensive search process over the last several months to select the next CEO of Boeing and Kelly has the right skills and experience to lead Boeing in its next chapter,” Mollenkopf said. “Kelly is an experienced leader who is deeply respected in the aerospace industry, with a well-earned reputation for building strong teams and running complex engineering and manufacturing companies.”
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