Boeing's New CEO Calls for Cultural Overhaul Amid Financial Struggles

Boeing's CEO, Kelly Ortberg, has unveiled a strategy aimed at reviving the troubled aerospace giant, emphasizing a cultural shift and improved performance. Facing financial challenges, including a $6 billion loss partly due to strikes, Boeing is exploring asset sales and potential equity offerings to stabilize operations.

In a bold move to steer Boeing through turbulent times, newly appointed CEO Kelly Ortberg has outlined an ambitious plan for internal transformation at the aerospace manufacturer. Amid losses swelling to $8 billion and ongoing labor strikes, Ortberg advocates for a cultural change to bolster the company's foundation.

Ortberg's strategy includes potential asset sales and possibly issuing equity securities as measures to recover from financial strain. Despite these hurdles, including a projected cash burn into 2025, Boeing remains committed to maintaining operations and improving liquidity, according to recent regulatory filings.

As Boeing grapples with a cap on 737 MAX production and supply chain challenges, Ortberg's leadership marks a shift in acknowledging and addressing the company's longstanding issues. His decisions are closely tied to resolving a crucial labor dispute affecting thousands of workers, pivotal to returning Boeing to its iconic status.

(With inputs from agencies.)