Steve Parker, a long-time employee of Boeing, has been promoted from his role as interim CEO to the position of CEO of the company’s defence division. In addition to being the unit’s chief operating officer, Parker has also led various business divisions responsible for the vertical lift, bombers, and fighters portfolios. According to a company news release, he will take on the leadership of Boeing’s defence unit immediately.
“Under Steve’s leadership, our defence business has stabilised its operations, improved programme execution, and strengthened relationships with our customers. With proven experience in manufacturing and programme management, combined with his focus on developing people and building a strong culture, Steve is a leader who exemplifies the best of Boeing,” Boeing CEO Kelly Ortberg said in a statement.
Taed Colbert, who left Boeing in September, is replaced by Steve Parker as the company’s defence chief executive. In his capacity as COO of the defence unit from 2022 to 2024, Parker collaborated closely with Colbert and managed business operations. This position placed Parker in a unique role to address manufacturing problems and supply chain difficulties that had resulted in billions of dollars in cost overruns on several fixed-price Boeing defence contracts.
When President Donald Trump declared that Boeing’s F-47 had won the Air Force’s sixth-generation fighter programme, Steve Parker was in the driver’s seat, having been interim leader of Boeing’s defence business since Colbert’s departure. The contract was viewed as potentially pivotal for the future of Boeing’s defence division, which has depended on lucrative legacy programmes like the F-15 and F/A-18, while more recent programmes like the T-7 and KC-46 continue to face budgetary and schedule challenges.
Steve Parker’s promotion to permanent CEO follows yet another significant change in Boeing’s leadership. Boeing said that Jay Malave, a former CFO at Lockheed Martin, will replace Brian West as the company’s new finance chief on August 15.
Meet Steve Parker
Steve Parker is the vice president and general manager of Boeing’s Defence, Space, and Security division, a crucial part of the business responsible for satellite systems, military aircraft, and space exploration. Parker is one of Boeing’s top executives and manages the creation of innovative defence and aerospace technologies. Under his direction, Boeing will remain a significant force in the military and commercial aerospace industries, with an emphasis on advancing national security via cutting-edge systems and technology.
His highly technical career in the aerospace and defence industries began when Parker graduated from the University of Alabama with a Bachelor of Science in Aerospace Engineering. He had a solid engineering background, which prepared him for challenging engineering and management positions at Boeing. His academic background has given him a thorough awareness of the technological difficulties and advancements required in the defence industry, allowing him to succeed in his line of work.
In his early years at Boeing, Steve Parker worked in a variety of engineering and management roles in different departments, which gave him a thorough understanding of the business’s operations. He was a logical choice for the Defence, Space, and Security division because of his extensive familiarity with Boeing’s offerings and corporate culture. In this role, he has had the chance to oversee important military and civilian projects. Through these experiences, he was able to acquire the technical know-how and strategic thinking required for his current leadership position.
In Parker’s present position, he manages several Boeing space and defence initiatives. These include space exploration technologies, missile defence systems, satellite communications, and military aircraft. Several well-known projects, including the F/A-18 Super Hornet, the modernisation of the B-52 Stratofortress, and the V-22 Osprey tilt-rotor aircraft, have been undertaken by Boeing under his direction. He has also been instrumental in Boeing’s collaborations with NASA and the United States Department of Defence, helping to develop space exploration programmes and satellite systems for military and commercial uses.
Appointment Comes At A Crucial Time
Revenue in Boeing’s Defence, Space & Security (BDS) business has grown by 10% year-over-year in the second quarter of 2025, alongside improvements in operating margin and gains in backlog. BDS revenue in Q2 was USD 6.6 billion. The segment posted USD 110 million in earnings from operations, compared to a loss of USD 913 million in the same period in 2024.
Operating margin was 1.7% during the quarter, compared to -15.2% in the same time last year. According to CFO Brian West, BDS is working toward the goal of reaching high single-digit margins. Stock performance is stabilising on 25% of the portfolio, which includes satellite programmes and fighter aircraft.
BDS delivered two satellites during the quarter — two O3b mPOWER satellites, delivered to SES — while its backlog grew to USD 74 billion. Boeing reports that 22% of the BDS backlog represents orders from customers outside the United States.
Boeing also highlighted the recent USD 2.8 billion contract awarded by the US Space Force Space Systems Command (SSC) to build the first two Evolved Strategic Satcom (ESS) satellites for space-based nuclear command and control and communication.
However, Parker’s role will be crucial in settling another dispute. More than 3,000 unionised employees at BDS sites near St. Louis, Missouri, voted to reject the offer on 27 July, thereby gearing up for a potential strike. As per the International Association of Machinists and Aerospace Workers (IAM), the strike can begin on 4 August after a seven-day cooling-off period.
IAM members at sites in St. Louis and St. Charles, Missouri, complete work on all of Boeing’s fixed-wing tactical aircraft, including the F-15EX and F/A-18E/F fighters and the T-7A trainer. A newly opened assembly line in nearby Mascoutah, Illinois, which handles production of the nascent MQ-25 uncrewed refueller, is also covered by the IAM vote.
Several munitions production lines and Boeing’s Phantom Works advanced projects unit are also in St. Louis. The aviation giant has told FlightGlobal that 3,100 employees across those product lines are now covered by the bargaining unit and moving toward a shutdown.
“The proposal from Boeing Defence fell short of addressing the priorities and sacrifices of the skilled IAM Union workforce. Our members are standing together to demand a contract that respects their work and ensures a secure future,” the labour group said. Union leaders had earlier recommended that members approve the offer from Boeing, describing it as a “landmark” agreement on 24 July.
IAM has not revealed the issues driving members to reject the proposal, saying only that negotiators plan to return to the table with Boeing to deliver “meaningful improvements that support the well-being and livelihoods of IAM members.”
The looming strike comes several months after Boeing secured a massive contract with the US Air Force to develop the F-47 Next Generation Air Dominance fighter, a deal worth hundreds of billions of dollars over decades. Boeing also invested nearly USD 2 billion in constructing a classified fighter production factory at its St. Louis campus. The latest strike threat demands Steve Parker’s intervention, given that the aerospace giant endured a 53-day work stoppage in 2024 — a disruption that cost the airframer some USD 5.5 billion, forcing it to shutter its 767 and 777 production site in Everett and its 737 assembly facility in Renton.
According to analysis from the Anderson Economic Group, aerospace industry suppliers that provide components to Boeing suffered USD 2.3 billion in losses from the disruption.
Image Credits: Boeing