FILE PHOTO: The Boeing logo is displayed on a screen at the NYSE in New York
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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