Boeing (B.A) has faced many challenges this year, with the aircraft manufacturing stock down more than 30% year-to-date by 2024. Great Hill Capital chairman and managing member Thomas Hayes joins Wealth! to discuss the company’s outlook as it moves forward with a new CEO.
Hayes is sure Boeing’s new CEO Kelly Ortbergwhich points to his success with Rockwell Collins and his past as an engineer. “For the first time in a while, we get to run Boeing by an actual engineer versus a salesperson,” he explains, adding that it’s “helpful” after the mechanical and safety problems the company has faced over the past year.
“Kelly Ortberg is going to turn this ship around. The duopoly is in place. The backlog of over a decade is in place. So we like this as a high quality business that is temporarily impaired.”
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This post was written by Melanie Riehl