The new CFO won’t participate in matters involving Boeing’s defence and space business until the end of 2025, Boeing said. He will be given some visibility into the division’s aggregate financial performance, however.
Boeing’s new chief financial officer, Jesus “Jay” Malave, won’t be allowed to join in discussions initially that involve the company’s second-largest business, one of several unusual clauses in his hiring agreement addressing potential conflicts of interest with a former employer.
Malave, who’s joining Boeing next month, held the same role at Lockheed Martin before stepping down abruptly in April, days before a quarterly earnings call. In a filing on Thursday, Boeing said it is paying its defence rival US$2 million ($2.55 million) “in connection with a release of claims relating to Mr. Malave’s employment with the company”.
