After a tumultuous year so far for Boeing (BA) due to several mid-flight incidents and federal probes into its aircraft manufacturing, the company has picked former Collins Aerospace CEO Robert Kelly Ortberg to replace chief executive Dave Calhoun starting August 8.

Boeing also reported second quarter earnings ahead of Wednesday's opening bell, seeing wider than expected losses (adjusted loss per share of $2.90 vs. $1.82 estimated) and a revenue miss ($16.9 billion vs. $17.46 billion).

"There was some concern this might be an internal hire. And so now that we have someone that's going to be looked at as, one, having an engineering background, but, two, being a Boeing outsider with a successful track record in the aerospace industry, I think all of that's going to be looked at positively," Stifel equity research analyst Bert Subin tells Yahoo Finance.

Subin comments on what Ortberg's leadership experience could provide Boeing coming out of its controversies and investigations by the Federal Aviation Administration (FAA).

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This post was written by Luke Carberry Mogan.