On November 20th local time, Boeing CEO Kelly Ortberg stated at a company wide meeting that Boeing has serious corporate culture issues and cannot afford to make mistakes again. He pointed out that Boeing's management hierarchy is bloated, spending is wasteful, and there is a culture of infighting and shirking responsibility.
Otterberg mentioned that Boeing spent more time on internal debates rather than thinking about how to defeat Airbus. He said that everyone is tired of the argument that Boeing has a problem, and he is also tired, even though he hasn't been with the company for long.
Otterberg stated that Boeing's cash flow will only turn positive when the monthly production of 737 aircraft increases to the originally planned target of 38 aircraft by the end of 2023. He also stated that Boeing does not have the funds to initiate new aircraft projects, but the company does not currently have an urgent need for new projects.
Ultraburger said that Boeing has experienced many ups and downs and is now in a low point, but "today Boeing has the opportunity to get out of the predicament and truly achieve improvement". To address the issue of Boeing's corporate culture, Otterberg stated that the company will reform its employee incentive plan. "The practice of implementing different reward systems for employees in different departments is ineffective, and incentive measures should be unified throughout the company. (Wall Street Journal)