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.

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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.Colbert spent 15 years at Boeing, serving as chief information officer and leading its global-services business before running the defense unit.

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