Boeing has announced a change in its chief financial officer position. Brian West will transition to a senior advisor role for Boeing President and CEO Kelly Ortberg, while Jesus "Jay" Malave has been appointed as the new executive vice president and chief financial officer. Both appointments are effective August 15.
West, who served as Boeing's CFO for four years, will continue with the company in an advisory capacity to assist with the CFO leadership transition. "I want to personally thank Brian for his outstanding work navigating our recovery and positioning the company for the future," said Ortberg. He added that West played a crucial role during some of Boeing's most significant years by guiding through a historic capital raise and ensuring resources were available to enhance safety and quality across operations.
Malave will oversee Boeing's financial strategy, reporting, long-range business planning, investor relations, treasury, controller and audit operations, along with Enterprise Services including global real estate and facilities. He will report directly to Ortberg and be part of the company's Executive Council. Ortberg stated, "Jay will become CFO at an important time in helping build Boeing's next chapter as we continue to make progress on our recovery and implement fundamental changes rooted in safety and quality."
Before joining Boeing, Malave was CFO at Lockheed Martin. His previous roles include senior vice president and CFO at L3Harris Technologies. He also spent over 20 years at United Technologies Corporation in various capacities including vice president and CFO of Carrier Corporation when it was part of UTC, as well as vice president and CFO at UTC Aerospace Systems.
Malave holds a bachelor's degree in mathematics from the University of Connecticut, a master's degree in accounting from the University of Hartford, and a Juris Doctor from the University of Connecticut School of Law.