Federal Contractors | Technology 2024: THEODORE ‘TED’ COLBERT III

Colbert was named the head of Boeing’s defense, space and security sector in 2022. Colbert restructured the defense program, but Boeing is still years behind schedule on aircraft and tanker deliveries; his unit logged nearly $1 billion in losses in 2023 alone. In January, a Boeing official said that they plan to get the unit back to high single-digit margins by the 2025-26 timeframe.

Recent headlines have been brutal for Boeing. The Fortune 500 aircraft and aerospace manufacturer has experienced ongoing issues with its commercial 737 Max plane, including a midair blowout of a door panel on a flight in January. And this summer, a Boeing Starliner spacecraft stranded two astronauts aboard the International Space Station.

In 2023, Boeing’s revenue was $22.02 billion, growing 10% from the previous year. It employs roughly 170,000 people worldwide.

A graduate of Morehouse and Georgia Tech, Colbert previously worked for Ford and Citigroup. He joined Boeing in 2009, serving as chief information officer, then president and CEO of Boeing’s global services division. Colbert was elected chair of the Aerospace Industries Association board for 2024.