India, July 1 -- Boeing announced on Monday that it will be replacing its Chief Financial Officer Brian West with Jesus "Jay" Malave, the former finance chief of Lockheed Martin. West will transition into the role of senior advisor to Boeing President and CEO Kelly Ortberg. Malave has also been named as the incoming executive vice president. Both appointments will take effect on August 15.

According to Bloomberg, this move represents the most high-profile leadership change since Ortberg assumed the CEO position at Boeing last year.

In a statement, the company said: "Boeing today announced a transition in its chief financial officer role. Brian West will become a senior advisor to Boeing President and CEO Kelly Ortberg, and Jesus 'Jay' M...