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,

Boeing has announced the appointment of Jesus “Jay” Malave as executive vice president and chief financial officer, effective Aug. 15. Malave will replace current CFO Brian West, who will become a senior adviser to Boeing President and CEO Kelly Ortberg and assist with the upcoming CFO leadership transition.

Boeing (NYSE:BA) named Jay Malave as its next chief financial officer, succeeding Brian West, who will step down from the role after four years. The leadership change is set to take effect August 15,