Boeing has officially appointed Stephen Parker as the CEO of its Defense, Space & Security (BDS) business, effective immediately. Parker, a 37-year veteran of the company, had been serving as the interim leader of the unit since September 2024. He will report to Boeing's President and CEO, Kelly Ortberg, and will also serve on the company's Executive Council.

In his new role, Parker will be responsible for overseeing all aspects of the BDS business, which provides technology, products, and solutions for defense, government, space, and intelligence customers worldwide.

Parker's appointment comes at a crucial time for Boeing's defense unit, which has faced challenges in recent years, including cost overruns and supply chain disruptions. As COO of the defense unit from 2022 to 2024, Parker worked closely with Colbert and was responsible for overseeing business operations — a role that put him in point position to grapple with supply chain challenges and other manufacturing issues that had contributed to billions in cost overruns on several fixed-price Boeing defense contracts.

Kelly Ortberg, Boeing's President and CEO, expressed confidence in Parker's ability to lead the defense business, stating, "Under Steve's leadership, our defense business has stabilized its operations, improved program execution, and strengthened relationships with our customers." Ortberg further added, "With proven experience in manufacturing and program management, combined with his focus on developing people and building a strong culture, Steve is a leader who exemplifies the best of Boeing."

Parker's extensive experience within Boeing includes serving as the Chief Operating Officer for BDS, where he was responsible for day-to-day business operations, overseeing teams in quality, manufacturing, safety, supply chain, and program management. He also previously led BDS divisions such as Bombers & Fighters and Vertical Lift and managed Boeing Defence Australia, the company's largest subsidiary outside the U.S.

Parker joined Boeing in 1988 and has held various leadership positions throughout his career. His appointment as CEO of BDS signals Boeing's commitment to strengthening its defense business and addressing the challenges it has faced.

The appointment also occurs as global demand for military and space systems is increasing amid rising geopolitical tensions. In addition to Parker's appointment, Boeing recently announced that Jay Malave, former CFO of Lockheed Martin, will become Boeing's CFO, effective August 15.

Following the announcement of Parker's appointment, Boeing's stock inched 0.1% higher in afternoon trading on Tuesday.