Boeing's new outsider CEO Ortberg takes the helm, this time from the factory floor

Aerospace veteran Robert "Kelly" Ortberg becomes Boeing's new CEO on Thursday with a singular mission: restoring the reputation of a U.S. manufacturing icon.

That enormous goal will involve thousands of daily decisions that will determine whether Boeing can earn back the trust of regulators, airlines and the public; end persistent production defects; deliver aircraft on time and consistently to customers large and small; and stop burning cash.

That cash burn is running about $8 billion so far this year and counting. Meanwhile, Boeing shares are down some 37% so far this year, as of Wednesday.

Ortberg's Day 1 activity is walking the floor of Boeing's factory in Renton, Washington, where it builds its best-selling but problematic 737 Max. He plans to talk with employees and review safety and quality plans, with similar visits ahead at other Boeing plants.

"I can't tell you how proud and excited I am to be a member of the Boeing team," he said in a note to staff on Thursday. "While we clearly have a lot of work to do in restoring trust, I'm confident that working together, we will return the company to be the industry leader we all expect."

Analysts and industry insiders are cautiously upbeat, painting the 64-year-old Ortberg — a more than three-decade veteran of the industry who spent years atop commercial and defense supplier Rockwell Collins after working up the ranks there — as a good listener with an engineering background (he has a mechanical engineering degree). Perhaps most importantly, he is a Boeing outsider.

"This guy has a fantastic reputation and level of experience in the industry," said Richard Aboulafia, managing director at AeroDynamic Advisory. "He has a reputation for listening and for letting people push