New Boeing CFO Barred From Defense, Lockheed Matters for Now

Boeing Co.’s new chief financial officer, Jesus “Jay” Malave, won’t be allowed to join in discussions initially that involve the company’s second-largest business, one of several unusual clauses in his hiring agreement addressing potential conflicts of interest with a former employer.

Malave, who’s joining Boeing next month, held the same role at Lockheed Martin Corp. before stepping down abruptly in April, days before a quarterly earnings call. In a filing on Thursday, Boeing said it is paying its defense rival $2 million “in connection with a release of claims relating to Mr. Malave’s employment with the company.”