Boeing BA.N said on Friday that Ted Colbert, president and CEO of its defense, space and security unit will be leaving the company effective immediately.

Boeing's new CEO Kelly Ortberg said the company's defense unit chief Ted Colbert is leaving Boeing and that a replacement would be named later. The defense unit accounted for about 40% of Boeing's revenue in the first half of the year.

He stated, "At this critical juncture, our priority is to restore the trust of our customers and meet the high standards they expect of us to enable their critical missions around the world." This statement comes as Boeing's space division faces significant challenges,