Boeing Appoints Kelly Ortberg as New CEO

Details

'Kelly' Ortberg as its new President and Chief Executive Officer, effective August 8, 2024. Ortberg succeeds David L. Calhoun, who resigned from his positions effective the same date. Ortberg brings over 35 years of aerospace leadership experience, most recently serving as a special advisor to RTX Corporation. His compensation package includes an annual base salary of $1.5 million, annual incentive award target of $3 million, and a long-term incentive award target of $17.5 million for 2025. A press release with further details is furnished as Exhibit 99.1 to this Current Report on Form 8-K.

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About Boeing Co.

Boeing Co. is a global leader in aerospace and defense, renowned for its significant contributions to the aviation industry. The company designs, manufactures, and sells airplanes, rotorcraft, rockets, satellites, telecommunications equipment, and missiles worldwide. Beyond commercial aircraft, Boeing provides products and services to the defense and space sectors, including military aircraft and advanced technology systems. This dual focus allows Boeing to operate at the intersection of commercial aviation and defense industries. As the manufacturer of some of the world’s most widely used aircraft, such as the 737, 777, and the Dreamliner series, Boeing plays a crucial role in international air travel and cargo transit. Its innovations impact various industries, including manufacturing, national defense, and space exploration. Headquartered in Chicago, Illinois, Boeing remains a pivotal player in advancing technological frontiers and supporting global infrastructure through its aerospace and defense capabilities.