Boeing has named Kelly Ortberg as its new CEO, replacing Dave Calhoun effective August 8th. Ortberg previously served as CEO of Rockwell Collins, which later became Collins Aerospace after being acquired by defense giant Raytheon. Boeing announced in March that Calhoun would step down by the end of the year as part of a leadership shakeup after recent crises. Boeing's chairman said Ortberg was selected after an extensive search and is respected in the industry for building strong teams. Boeing's second-quarter financial results included larger-than-anticipated losses and a decrease in revenue compared to last year.