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.

Boeing has announced the appointment of their new CFO Jesus 'Jay' Malave, effective from August 15. He will also take over as the Executive Vice President. He will succeed Brian West, who has been the

Boeing said Brian West, its chief financial officer, would depart the role later this summer and be succeeded by the former financial chief of Lockheed Martin.