The head of Boeing's defense and space business is out as company tries to fix troubled contracts

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Boeing is replacing the head of its defense and space business, a unit that has been saddled with money-losing government contracts and embarrassing failures by its Starliner space capsule.

Boeing on Friday replaced the head of its troubled defense and space business, which has struggled with money-losing government contracts and embarrassing setbacks involving its Starliner space capsule.The company said Theodore "Ted" Colbert III was removed immediately as president and CEO of Boeing Defense, Space & Security and replaced temporarily by the division's chief operating officer, Steve Parker. A search is underway for a permanent replacement.

, including new Air Force One presidential planes and refueling tankers for the Air Force.Since the start of 2022, the defense and space division has lost $6 billion, slightly more than Boeing's airplane business.The Starliner capsule that Boeing built for suffered problems with thrusters on its first crewed mission to the International Space Station.

decided this month it was too risky for two astronauts to fly home in the capsule, so they will stay in space until February and ride back to Earth on a SpaceX capsule.

 

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