Boeing Co said on Monday it had appointed former Lockheed Martin executive Jesus 'Jay' Malave as the planemaker's new CFO, effective Aug. 15. He will succeed Brian West, who will stay on in an advisory role,

Jesus “Jay” Malave has been elected to succeed Brian West as the executive vice president and CFO for Boeing, the company announced.

Boeing Co. said Chief Financial Officer Brian West, who helped orchestrate one of the biggest capital raises in US corporate history last year to steady the crisis-stricken planemaker, is stepping down.