Boeing announced a transition in its chief financial officer role. Brian West will become a senior advisor to Boeing President and CEO Kelly Ortberg, and Jesus “Jay” Malave has been elected as incoming executive vice president and chief financial officer. Both roles are effective August 15.
https://afm.aero/boeing-announces-2025-chief-financial-officer-transition-plan/
It's all a ponzi scheme.
@kv
I hear what you are saying and thanks for the explanation. As a metaphor, I believe Microsoft blamed one designer for the Windows8 fiasco. That botched abortion is the fault and blame of more than one designer. If Malave was instructed to win that contract at all cost, maybe at cost, then maybe he could have done more to outbid BA. I still wish him well and hopes he can help the BA sinking ship.
I think Lockheed became too arrogant and too confident they were going to win. And allowed Boeing to underbid them.
If you look at the last few defense contracts Boeing won, the refueling tanker, the mq25 refueling drone, the Air Force T-X trainer, Boeing aggressively bid them and they have never shown a profit on any of them. in addition, Boeing aggressively scheduled deliveries and they have been years late on all of them.
It makes you scratch your head while you would award Boeing a cost plus Contract when they have never got control of costs on any of these recent programs.
Lockheed should’ve been aware of Boeing‘s aggressive bidding and had a more competitive bid. The fact he was the only executive fired at Lockheed after the F 47 loss kind of indicates that he was blamed for it.
on paper Boeing hasn’t made money in like a decade, while Lockheed has been profitable every year since they won, the F-35.
To be beat out because your bid was too high when you’re making money hand over fist just inexcusable and he was fired.
Everybody knows Boeing under bids for military contracts annd everybody knows Boeing’s poor financial condition. While on the other side, Lockheed is in great financial shape and should’ve been able to underbid any competitor.
In a nutshell, CFO was way too focused on profit and not focused enough on competitive pricing especially when winning new work. That’s why he got fired and it makes no sense to hire someone who was blamed for that major program loss
Lockheed could not put together a competitive bid to win F47 and they’re already been eliminated from the FXX program bid.
In the light of not being able to make a competitive bid to win a program why would you want to bring him on board your company?
@fn
Are you inferring that Malave intentionally had LM to overbid the project so that he could get a job at BA? I guess anything is possible, but I believe that is reaching.
I think most financial analyst were expecting Lockheed Martin to win that contract and the fact they didn’t the only explanation that kind of makes sense is as luck as boeing has done on their last several defense programs. They extremely underbid it and over promised delivery dates. Which plays in the way he was fired from chief financial officer position at Lockheed. Which is to say he allowed lockheed to be under bid.
@bd
Maybe BA low-balled to get the contract. Not the first time they have done this. Providing a fair bid for an employer is responsible. It helps protect them. It was his job to protect his client.
The 757 finance department did not estimate the cost of the aircraft correctly. BA ended up selling the plane to customers under cost. It is a great plane, but they eventually had to stop selling/making them because BA lost money for every plane that they sold.
There are many different reasons why someone can get laided off/fired. I hope Malave can help the company.
He just got fired from Lockheed because they lost the F 47. Why on earth would you want to hire him when he was a big part of the reason Lockheed had a failed bid?
It's just reshuffling the deckchairs on the Titanic !!!
This Malave guy sounds impressive: LM, L3, UTC. Hopefully he can help BA because BA is in trouble.