If the last few weeks have not yet produced enough bad news for aerospace company Boeing (BA), then today will add to the list. Boeing just lost the CEO of its satellite-making subsidiary, and that was enough to send shares down a little over 1.5% in Wednesday afternoon’s trading.
Jason Kim has held the position at Millennium Space Systems for the last four years. But now, Kim is out, and Boeing is left looking for its second new CEO in as many months. Boeing picked up Millennium Space Systems back in 2018, and it has delivered some impressive wins accordingly, including new contracts with the Department of Defense in the U.S.
As to why Kim is departing, a report from TechCrunch said that, basically, no one knew except Kim himself, and he was not talking. By the end, Kim had improved Millennium Space Systems to the point it could support nearly 1,000 workers, which made it a pretty substantial operation.
