Boeing Severs Ties With Lobbying Firm Involved In 737 Max Crisis Management: Report (CORRECTED)
Portfolio Pulse from Benzinga Neuro
Boeing Co. (NYSE:BA) has terminated its contract with Cornerstone Government Affairs, the lobbying firm that supported Boeing during the 737 Max crisis. This decision, made by Boeing's chief lobbyist Ziad "Z" Ojakli, aligns with the company's strategy to overhaul its leadership and lobbying efforts following the 737 Max incidents. Boeing's lobbying investment in 2023 amounted to $14.4 million with a significant lobbying team in place. The company's recent challenges include a decline in commercial aircraft deliveries and a safety incident involving a Delta Air Lines Boeing 757.
April 16, 2024 | 12:39 pm
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Boeing Co. ends its relationship with Cornerstone Government Affairs, a key player in its 737 Max crisis management, as part of its strategic realignment in leadership and lobbying efforts.
Boeing's decision to sever ties with Cornerstone Government Affairs reflects a significant shift in its approach to crisis management and lobbying, aiming to revamp its image and strategy post-737 Max crisis. While this move is part of a broader strategic realignment, its immediate impact on stock price may be neutral as investors assess the long-term implications of these changes on the company's reputation and lobbying effectiveness. The recent challenges, including a decline in aircraft deliveries and safety incidents, may have a more direct impact on investor sentiment.
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