Any chief executive or finance chief would say that “a strong CEO-CFO relationship is critical” to successful execution—whether the strategy is turnaround, growth, or something in between, Scott Simmons, co-managing partner at executive search firm Crist Kolder Associates told Fortune. “There must be trust and respect between those two positions to make it all work,” Simmons noted.
Malave brings decades of experience developing people and teams across complex aerospace and manufacturing businesses, according to Ortberg.
Regarding Boeing’s challenges, “I’m certain the board empowered Ortberg to ‘fix it’ and provided him with a very long leash,” Simmons said. The most important element Malave brings, beyond his track record at large, complex aerospace companies, is the ability to establish instant trust with Ortberg, he said. “This will allow them to hit the ground running,” he said.
Malave and Ortberg will need to continue working to maintain positive momentum.
