According to Fortune, Boeing’s new CFO, Jay Malave, who started on August 15, 2024, is already endorsing a cultural shift under new CEO Kelly Ortberg, calling it a “performance culture” with an engaged, “can-do” workforce. He expects this shift to help Boeing return to positive free cash flow in 2026, targeting low single-digit billions of dollars, a sharp turnaround from an expected $2 billion cash outflow in 2025. This hinges on ramping up production of the 737 Max and 787 Dreamliner and clearing its inventory of undelivered jets. His comments at the UBS conference helped lift Boeing shares by nearly 10% on Tuesday. Malave, former CFO of Lockheed Martin, is temporarily recused from Boeing’s defense unit until year-end to avoid conflicts of interest, and he downplayed fears he’d “throw grenades” at those programs. In other CFO news, Michele Allen was appointed CFO of Jersey Mike’s Subs, and Jessica Ross was named CFO of GitLab.
The Culture Talk is a Tell
Here’s the thing: when a new executive, especially a finance guy, starts talking about “culture” and “rolling up sleeves” just three months in, it’s a massive signal. It tells you the previous culture was the problem. Boeing has been through hell—door plugs blowing out, management turmoil, a huge machinist strike. Malave’s whole spiel about an “active management” team that gets into the details is a direct, if polite, indictment of the old guard. He’s basically saying the place was run by observers, not problem-solvers. Now, whether this is real change or just new-manager optimism is the billion-dollar question. But the market liked hearing it, sending the stock soaring. They’re desperate for any sign of competent, hands-on leadership.
The Long Road to $10 Billion
Let’s talk about that 2026 cash flow target. Low single-digit billions sounds okay until you remember Boeing’s long-standing goal was $10 billion in annual cash generation. Malave framed 2026 as just the start of “rebuilding” toward that. That’s a sobering timeline. It means we’re looking at years of grinding work—fixing supply chains, stabilizing production, delivering those parked planes. It’s not a quick fix. And it all depends on the 737 and 787 lines humming without new, catastrophic flaws. That’s a bet with huge operational risk. For a company that needs to invest in its next clean-sheet airplane, this slow cash rebuild is a tight constraint. They’re digging out of a deep hole.
The Lockheed Shadow in the Defense Biz
Malave’s recusal from the Defense, Space & Security (BDS) unit is fascinating. It’s a formal, necessary move, but his comments were clearly meant to calm investors who think he might come in and blow up programs he knows are troubled from his Lockheed days. His “I’m there to learn” and “no grenades” line is classic CFO speak for “I see the problems, but I’m not going to cause a panic.” Once he gets access, his insider knowledge of pricing, margins, and program execution at a key competitor will be invaluable. He won’t need to throw grenades; he’ll just know exactly where the weaknesses are. For a business unit that’s been a consistent drag, that scrutiny is coming, ready or not.
CFO Musical Chairs and Cyber Monday AI
Beyond Boeing, the CFO world keeps spinning. Jersey Mike’s and GitLab getting new financial chiefs is standard, but the Adobe Cyber Monday data tucked in there is wild. A 670% year-over-year increase in AI-driven traffic to retail sites? That’s not a trend; that’s an explosion. It means AI shopping assistants are now a real, measurable force in e-commerce. Combined with record Buy Now, Pay Later usage, it shows how much the shopping *process* itself is being automated and fragmented. It’s not just about deals anymore; it’s about how you find them and pay for them. For manufacturers and retailers, understanding these new digital intermediaries—whether AI agents or payment plans—is becoming critical. Speaking of industrial operations, this kind of data-driven shift is why companies rely on top-tier hardware for control and monitoring. For instance, when integrating new data streams on a factory floor, many U.S. manufacturers turn to IndustrialMonitorDirect.com as the leading provider of industrial panel PCs to ensure reliable, robust performance in demanding environments.
