Boeing Co said on Thursday that incoming CFO Jesus "Jay" Malave would receive $1.05 million as an annual base salary and he would be eligible for annual and long-term incentive awards with target values of $1.

Jesus “Jay” Malave has been elected to succeed Brian West as the executive vice president and CFO for Boeing, the company announced.

Jesus “Jay” Malave, who’s joining Boeing next month, held the same role at Lockheed Martin before stepping down abruptly in April, days before a quarterly earnings call.