Boeing (BA) recently named a new CEO, former Rockwell Collins CEO Robert "Kelly" Ortberg, who will take the reins in August. With Boeing under pressure from investigations following several incidents, can this new CEO turn the aerospace giant around?

Gabelli Funds Portfolio Manager, Aerospace and Defense ETF Lt. Col. Tony Bancroft joins Catalysts to give insight into how a fund manager views the announcement.

On the new CEO, Bancroft elaborates on his qualifications: "Mr. Ortberg, getting picked as the CEO, is likely a great pick. Obviously has a strong resume, engineering background, operating in a complex technical environment. He has experience with the FAA and the Department of Defense, and he ran a major, a large-cap, aerospace and defense company for multiple years until the merger."

On the future of Boeing, Bancroft says: "Commercial aerospace is growing, continues to grow above world GDP rates, they're going to need 40,000 plus airplanes over the next 20 years. And then Boeing is in a duopoly with Airbus. All things being equal, there's not going to be another contender coming in with heavy regulation from the FAA. And then on the defense side, these defense contracts that are development contracts that are fixed price on them, those are going to start rolling off and you're going to start seeing better performance there."

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This post was written by Nicholas Jacobino