FILE PHOTO: The Boeing logo is displayed on a screen at the NYSE in New York
Breaking Defense: Under shadow of financial losses, Boeing makes sweeping changes to defense biz
The changes, including halving business divisions, come as Boeing’s defense sector finds itself at a crossroads, with new leadership contending with systemic financial issues tied to its large number of fixed-price contracts with the US government.
WASHINGTON — Boeing is overhauling its defense, space and security organization, cutting down from eight business divisions to four in the hopes of boosting performance amid a string of financial losses, the company announced today.
“I am confident this reorganization will drive greater and more simplified integration and collaboration across Boeing Defense, Space & Security,” said Ted Colbert, chief executive of Boeing’s defense sector.
“These changes will help accelerate operational discipline and program quality and performance, while stabilizing our development and production programs. These are necessary steps to put BDS on the path to stronger, profitable growth.”
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Boeing Is Overhauling Its Defense, Space And Security Divisions After Experiencing Financial Loses
Boeing Defense to Cut Execs, Consolidate Divisions -- Defense One
Boeing reshuffles defense unit after recent losses in key programs -- Defense News
Boeing reorganizes defense unit in push to simplify -- Reuters
Boeing reorganizes defense unit, Kay Sears to lead space and launch business -- Space News
