Brian Besanceney, the Senior VP and Chief Communications Officer at Boeing, has announced that he will step down on October 1. In the meantime, Ann Schmidt, Boeing’s VP of Corporate Communications, will take over the role.
Besanceney expressed gratitude for his time at Boeing and wished the company future success. Schmidt is confident she can handle the role effectively during this transition period in Boeing’s executive leadership.
This shift in leadership aligns with the transition of the CEO role, expected to be filled by former Rockwell Collins CEO Robert Ortberg. Besanceney believes this is an advantageous time for a new executive to work with the incoming CEO to shape the company’s future.
Besanceney leaves an illustrious career, holding significant positions within the Bush administration, Walt Disney World, BP America, Honeywell and the US Department of State. His career emphasizes his ability to navigate corporate communications across diverse sectors with skill.
However, Boeing faces challenging times.
Boeing leadership transition amid adversity
The company’s safety reputation suffered after a 737 Max model design flaw resulted in two fatal accidents, prompting a production freeze and FAA scrutiny.
Additionally, a decrease in demand for new aircraft due to the Covid-19 pandemic has led to a significant loss in revenue for Boeing. Regardless, the company remains resilient, preparing to address the issues, regain trust, and possibly launch new aircraft models.
Boeing also potentially faces a strike by nearly 36,000 hourly workers in Washington State. The company has not been profitable since 2019, and reported a net loss of $1.4 billion in the second quarter of this year, considerably higher than the $149 million loss for the same period in 2020.
Despite these tribulations, Boeing’s revenue for the quarter ending on June 30 was $16.9 billion, aligning with analysts’ estimates. The net loss for the same period was $2.4 billion, considerably less than the $2.9 billion in the second quarter of 2019. The operating cash flow remained negative but was better than previous records, signifying their confidence in recovery initiatives.
