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Boeing CEO says ‘work to do’ in recovery

Boeing, Earnings Results, Manufacturing, Supply Chain

Boeing CEO says ‘work to do’ in recovery

Boeing CEO says ‘work to do’ in recovery

Published at: 26/10/2023

Boeing, Earnings Results, Manufacturing, Supply Chain

Boeing President and CEO Dave Calhoun has said there is “more work to do” as the company recovers from the affects of Covid, the grounding of the Max and other production glitches and delays.

In a message to employees addressing the company’s third-quarter results, he said: “We continue to make progress and despite the challenges that came our way in the third quarter, we remain on track in our long-term recovery.

“That said, we have more work to do. Lower commercial deliveries and continued challenges in our defence business impacted results in the quarter.

“To finish the year strong and head into 2024 well positioned, it is important we continue to improve operational performance and drive stability in our supply chain so we can meet our customer commitments.”

Calhoun said across Boeing’s key markets, demand for the company’s products and services continues to be strong.

Strong demand for Boeing products

“That demand will underpin our recovery, but it’s on us to perform,” he said. “When we set our recovery plans, we knew issues would come up along the way. This is a complex, long-cycle business, and enduring change takes time, especially as an entire industry works its way back from the impacts of a global pandemic.

“We’ve seen those challenges firsthand this year, whether they be conformance items, development hurdles or supply chain issues – and consequently, I have heard those outside our company wondering if we’ve lost a step. I view it as quite the opposite.

“Over the last several years, we’ve added rigor around our quality processes, hired tens of thousands of engineers and mechanics, advanced key investments in our future, transformed our functions and gradually increased our production rates. Most importantly, we’ve worked hard to instil a culture of speaking up and transparently bringing forward any issue, no matter the size, so we can get things right for the future.

“As a result, we’re finding items we need to resolve. These are not newly created defects in the system; instead, thanks to the culture we’re building, we have identified non-conformances from the past that we now have the rigour to find and fix once and for all.”

Commenting on the geopolitical instability, he added: “We also remain mindful of the deeply complex geopolitical dynamics that continue to unfold in both Ukraine and Israel. We will continue to focus on the safety and well-being of our employees in those regions, as well as around the globe, and aiding those in need.”