Boeing CEO's Bold Turnaround Vision Amidst Crippling Challenges

Boeing CEO Kelly Ortberg introduced a plan for cultural transformation to address the planemaker's challenges, including a crippling strike and production issues. Ortberg aims to stabilize Boeing's defense business and aircraft programs while prioritizing performance improvement and trust restoration amidst ongoing financial and operational hurdles.

On Wednesday, Boeing CEO Kelly Ortberg delivered a comprehensive turnaround strategy focusing on a "fundamental culture change" as the planemaker navigates severe challenges including a crippling strike, rising debt, and significant cash burn.

Ortberg emphasized enhancing performance within Boeing's defense sector and its 737 MAX and 777 programs, while attempting to stabilize the company, which finds itself "at a crossroads" after a series of performance failures disappointed customers and damaged trust.

Ortberg's proposals follow sweeping cutbacks and the potential approval of a new contract amid a month-long strike affecting over 33,000 workers. Despite ongoing production delays and supply chain struggles, Ortberg remains optimistic about igniting positive change across Boeing's operations.

(With inputs from agencies.)