Boeing Co. (BA, Financials) appointed Jesus “Jay” Malave as its new chief financial officer, the aerospace giant said Monday, as the company looks to reset investor confidence amid ongoing operational and regulatory challenges.
Malave, who will assume the role on August 15, brings decades of experience from the aerospace and defense sector. He most recently served as CFO of Lockheed Martin (LMT, Financials), and previously held senior finance roles at L3Harris Technologies (LHX, Financials) and United Technologies, now part of RTX Corp. (RTX, Financials).
He replaces Brian West, who has served as Boeing's CFO since 2021. West will remain with the company in an advisory capacity to support the leadership transition.
Boeing shares were down 2.3% at market close Monday as broader defense and aerospace stocks remained mixed.
The leadership change comes as Boeing navigates intense scrutiny from regulators, delayed aircraft deliveries, and a string of safety and quality concerns that have weighed on its financial performance and stock price.
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