Boeing BA.N said on Friday that Ted Colbert, president and CEO of its defense, space and security unit will be leaving the company effective immediately.

Boeing Co. said that Ted Colbert, who oversees its defense and space division, is leaving the company, the first major personnel change by Kelly Ortberg since he took over as chief executive officer last month.

Boeing Co. said that Ted Colbert — its head of defense, space and security — would leave the company on Friday, as the beleaguered aviation giant’s new chief executive aims for big changes following a string of safety concerns and a deep slump in its financials.

Around Boeing Co.’s vast aircraft manufacturing hub in Seattle, the great belt tightening has begun as the planemaker and its factory workers settle in for a labor dispute that will test the resolve of both sides.

"I've never seen Boeing do that before. They might be feeling the pinch, feeling the hurt a little bit, you know--trying to save some money after spending so much money on four CE

Elon Musk said the Federal Aviation Administration (FAA) should punish Boeing for its Starliner failures rather than impose "petty" fines on SpaceX. In a Thursday X post, Musk expressed his displeasure with the FAA's proposed $633,

After SpaceX was hit with a proposed fine by federal regulators, Elon Musk is complaining that they should be focused on Boeing (BA) and leave his company alone.

SpaceX faces $633,009 fine from FAA for licensing violations, while Musk decries agency's focus on minor matters.