**Boeing CFO Brian West Steps Down Amid Leadership Transition**
Boeing has announced that Chief Financial Officer Brian West, who played a pivotal role in one of the largest capital raises in U.S. corporate history, will be stepping down from his position. West, who has served as CFO for the past four years, will remain with the company in an advisory role, assisting with the transition to his successor.
During his tenure, West was instrumental in navigating Boeing through a significant financial crisis, successfully raising capital at a critical time for the company. His efforts included a historic $24 billion equity sale last year, which stands as one of the largest in the history of public companies in the U.S. Additionally, he oversaw the recent $10.6 billion auction of the Jeppesen unit and other digital assets, further bolstering Boeing’s cash reserves.
Effective mid-August, West will be succeeded by Jesus “Jay” Malave, a former executive at Lockheed Martin Corp. Malave will take charge of Boeing’s financial strategy, reporting, long-range business planning, investor relations, treasury, controller and audit operations, as well as Enterprise Services, which encompasses global real estate and facilities.
Boeing President and CEO Kelly Ortberg praised West’s contributions, stating, “These past few years have been some of the most consequential in Boeing’s history. Brian successfully guided us through last year’s historic capital raise and ensured our team always had the resources to continue the critical work to strengthen safety and quality across our operations.”
In a recent interview, West expressed that the timing was right for him to step down, noting, “The balance sheet is much stronger, operating performance is better, and the outlook is very encouraging.” Following the announcement, Boeing’s shares saw a slight increase, recovering from earlier losses, and have risen 18% this year.
As Boeing prepares for this leadership change, the company looks to continue its focus on financial stability and operational excellence in the aerospace industry.
**FAQ**
**What impact did Brian West have on Boeing’s financial situation?**
Brian West significantly strengthened Boeing’s financial position by orchestrating a historic $24 billion capital raise and overseeing the sale of key assets, which helped the company navigate a challenging financial landscape.
