Boeing Said To Have Lost Its Top Lobbyist In Washington

Boeing Co’s (NYSE: BA) longtime top lobbyist and political strategist Tim Keating has left the company, Reuters reported on Monday, citing a company memo.

What Happened: Boeing confirmed Keating's exit and that the planemaker is hunting for a replacement without providing any details on the abrupt exit, the report noted. 

Marc Allen, Boeing's chief strategy officer, would serve as the interim head of government relations while the company looks for a permanent replacement.

Keating helped the U.S. planemaker navigate through its worst-ever crisis after two back-to-back fatal 737 MAX crashes.

See Also: Boeing Will Be Flying As High As $300 This Year: Lebenthal

The planemaker has taken down Keating’s biography from the Boeing website on Monday evening, the report said.  

Why It Matters: Keating joined Boeing in 2008 and was known to be a close aide of former CEO Dennis Muilenburg, as per Defense One, which first reported the news.

Price Action: Boeing shares closed 3.34% higher at $245.28 on Monday.

Photo by Etienne Jong on Unsplash