Spirit Aero CEO resigns as former Boeing exec named interim head

Spirit AeroSystems CEO Tom Gentile has stepped down in the wake of a series of industrial difficulties, with the major aerospace supplier naming former Boeing executive and Pentagon official Patrick Shanahan as his interim replacement. Shanahan, who has served on the company's board since November 2021, will become interim CEO effective immediately, Spirit announced Monday. Spirit said its board will conduct a search to identify a new CEO, while Gentile will stay on as a consultant for three months. Spirit shares have fallen 45% since the beginning of the year due to financial difficulties, including a two-week work stoppage at its Kansas-based production plant this summer, the discovery of several costly 737 production errors, and more than $200m in losses on Airbus and Boeing plane production programs. Gentile was named Spirit's CEO in August 2016, months after he joined the company as its COO. He oversaw the company during the 737 MAX crisis and pandemic, steering plans to diversify Spirit revenues with more defense and aftermarket work.<br/>