Why Boeing’s New CFO Jay Malave Is Key to Its 2025 Comeback
Boeing has appointed Jesus “Jay” Malave as its new chief financial officer, a move seen as critical to the company’s ongoing turnaround. Malave will step into the role on August 15, replacing outgoing CFO Brian West, who will become a senior advisor to Boeing President and CEO Kelly Ortberg.
Malave brings decades of financial leadership experience, most recently serving as CFO of Lockheed Martin. He previously held senior roles at L3Harris Technologies and spent over 20 years at United Technologies, including as CFO of Carrier Corporation.
At Boeing, Malave will oversee finance, strategy, business planning, and global real estate, while also joining the executive council. His appointment comes as Boeing continues to recover from major setbacks, including repeated aircraft malfunctions, a machinists’ strike involving over 33,000 workers, and the fallout from the January 2024 door-plug blowout incident.
CEO Kelly Ortberg, who succeeded Dave Calhoun in August 2024, was brought in as an outsider to reform Boeing’s internal culture and rebuild its reputation for safety and quality. Both Ortberg and Malave previously worked at United Technologies, providing a foundation of trust and strategic alignment.
Industry experts say a strong CEO-CFO partnership is essential during a turnaround. Executive recruiter Scott Simmons emphasized that Malave’s ability to establish immediate trust with Ortberg will help Boeing “hit the ground running.”
Fitch Ratings recently revised Boeing’s credit outlook from “negative” to “stable,” citing improved production, reduced downgrade risk, and increased financial flexibility following its $10.55 billion divestiture of Jeppesen. Malave and Ortberg now face the challenge of sustaining that momentum.
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Sources: AirGuide Business airguide.info, bing.com, yahoo.com