Boeing (BA) has faced many challenges this year, with the aircraft manufacturing stock down over 30% year to date in 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 confident in Boeing’s new CEO Kelly Ortberg, pointing to his success with Rockwell Collins and his past as an engineer. “For the first time in a while, we get to have Boeing run by an actual engineer versus a salesman,” he explains, adding that it is “helpful” after the mechanical and safety issues the company faced in the last year.
“Kelly Ortberg is going to turn around this ship. The duopoly is in place. The backlog of over a decade is in place. So we like this as a high-quality business that’s temporarily impaired.”
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This post was written by Melanie Riehl