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July 3 EST: Boeing’s incoming CFO Jay Malave is walking into a job that’s less about spreadsheets and more about rebuilding trust—across investors, regulators, and boardrooms. Starting August 15, 2025, Malave will be paid a $1.05 million base salary, with performance bonuses that could triple that figure. But the dollar signs are only part of the story.
Boeing Is Paying for a Heavyweight — and It Shows
The former Lockheed Martin finance chief is eligible for an annual incentive payout of $1.26 million and a long-term equity package worth $6.5 million. Boeing will also cover a $2 million transition payment to Lockheed, effectively buying Malave out of any legal or contractual friction tied to the jump between rival contractors.
In today’s market, that’s a steep premium for a CFO—but Boeing isn’t hiring a back-office operator. It’s hiring a field general.
Malave’s resume reads like a greatest hits of aerospace finance: United Technologies, L3Harris, and most recently, Lockheed. He’s worked inside complex supply chains, managed budgets tied to government contracts, and knows exactly how painful it is to land a jet that’s off-course.
Boeing’s bet? That kind of experience can steady a company still trying to shake off five years of turbulence.
Guardrails from Day One
Malave won’t have a free hand right away. Due to federal conflict-of-interest rules tied to his Lockheed tenure, he’ll face a staggered rollout:
- No involvement with Boeing’s defense, space, or security operations until end of 2025
- No participation in vendor deals with Lockheed until April 2026
- No procurement input on any contract where Lockheed is bidding until April 2027
That narrows Malave’s lane significantly—at least at first. But insiders say it’s a trade-off Boeing’s leadership is willing to make to get someone with his track record inside the building.
Timing Is Everything
Malave steps in as Brian West exits the CFO role after a four-year run defined by crisis management. West led Boeing through a $24 billion equity raise—the corporate equivalent of a blood transfusion during a near-death experience. He’ll stick around as an adviser to CEO Kelly Ortberg, who himself is only months into the top job.
Ortberg is pushing a turnaround strategy that blends old-school operational discipline with damage control. That includes stabilizing the 737 MAX production line, regaining FAA trust, and trying to un-kink a supply chain still coughing from COVID-era shortages.
In that environment, a CFO isn’t just signing off on budgets. He’s helping sell the next chapter to Wall Street, Washington, and the factory floor.
Boeing’s Balance Sheet Isn’t the Problem — Confidence Is
Yes, Boeing’s debt load is high and cash flow is tight. But the real deficit is credibility. After years of manufacturing defects, missed delivery targets, and safety lapses, investors are less worried about EPS than they are about whether the company can execute on its promises.
That’s where Malave’s hire sends a signal. Boeing didn’t go with an upstart finance wizard or a turnaround mercenary. They chose someone who’s lived inside the aerospace machine someone who knows what a good quarter looks like, but also what happens when a bolt comes loose at 30,000 feet.
It’s the kind of pick you make when you’re trying to restore order, not just chase growth.
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