Boeing Appoints Ex-Lockheed Finance Chief as New CFO

In a significant leadership move, Boeing has named Jesus “Jay” Malave—former Chief Financial Officer of Lockheed Martin—as its new CFO and Executive Vice President.

The appointment, effective August 15, 2025, comes at a time when Boeing is actively rebuilding its financial strength, operational stability, and public trust following years of challenges across production, quality, and labor.

Alongside Malave’s entry, current CFO Brian West will transition to a new role as Senior Advisor to President and CEO Kelly Ortberg, continuing to play a critical part in Boeing’s strategic direction.

Jay Malave Joins at a Crucial Phase

Jay Malave brings decades of experience in financial management from the defense and aerospace industry, most recently serving as CFO at Lockheed Martin. His appointment signals Boeing’s intent to inject new energy into its finance leadership while reinforcing its recovery roadmap.

“Jay will become CFO at an important time in helping build Boeing’s next chapter as we continue to make progress on our recovery and implement fundamental changes rooted in safety and quality,” said CEO Kelly Ortberg.

Financial Stabilization Under West

West, a former General Electric executive and longtime associate of ex-Boeing CEO Dave Calhoun, helped Boeing avert a possible downgrade to junk bond status. His key achievements include:

• Leading a $24 billion equity raise in 2024—one of the largest in U.S. corporate history.
• Overseeing the $10.6 billion sale of Jeppesen and other digital assets.
• Managing capital during a sharp production slump and reputational challenges.

These actions fortified Boeing’s cash reserves and allowed the company to weather the storm while maintaining investor confidence.

Boeing Eyes Long-Term Recovery

CEO Ortberg has acknowledged that restoring Boeing’s reputation as a U.S. manufacturing icon will be a “multiyear” process. The leadership transition reflects a broader strategic shift focused on operational resilience, safety culture, and financial discipline.

Boeing shares responded to the news with a modest 0.3% gain after hours, offsetting an earlier 2.3% dip. Year-to-date, the stock is up 18%, reflecting cautious optimism from investors.

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