This time, Boeing's new CEO Ortberg assumes leadership from the factory floor.

• On Tuesday, Robert "Kelly" Ortberg assumes the role of CEO at Boeing.
• The 64-year-old aerospace veteran previously headed supplier Rockwell Collins.
• Ortberg inherits a company mired in safety and manufacturing crisis.

On Thursday, Robert "Kelly" Ortberg, an aerospace veteran, will become the new CEO of a U.S. manufacturing icon with the goal of restoring its reputation.

Thousands of daily decisions will determine whether Boeing can regain the trust of regulators, airlines, and the public, resolve ongoing production defects, meet delivery deadlines consistently for customers of all sizes, and stop losing money.

This year, the cash burn has reached $8 billion and counting, while Boeing shares have dropped by 37% as of Wednesday.

Boeing's CEO, Dennis Muilenburg, will visit the factory in Renton, Washington, where the company produces its popular but troubled 737 Max aircraft. He intends to speak with employees and examine safety and quality protocols, with further visits planned at other Boeing facilities.

"He expressed his excitement and pride in being a member of the Boeing team in a note to staff on Thursday, stating that although there is much work to be done in restoring trust, he is confident that with teamwork, they will once again become the industry leader."

Boeing outsider Ortberg, a 64-year-old industry veteran with a mechanical engineering degree and a track record of success at commercial and defense supplier Rockwell Collins, is viewed with cautious optimism by analysts and insiders due to his good listening skills and engineering background.

"Richard Aboulafia, managing director at AeroDynamic Advisory, stated that this individual has a great reputation and extensive experience in the industry. He is known for being a good listener and allowing others to express their opinions."

Trouble across businesses

As Boeing works to stabilize production and eliminate manufacturing flaws, those skills will be crucial.

Boeing's commercial aerospace safety chief informed the National Transportation Safety Board that the company is currently developing a design solution to prevent the near-catastrophic door plug blowout that occurred at the beginning of the year from happening again.

The NTSB's investigation of the midair blowout of a door plug from a Boeing 737 Max 9, which occurred months after the plane was packed, resulted in no serious injuries but put Boeing back into crisis mode as it attempted to recover from two fatal crashes of its 737 Max planes in 2018 and 2019.

The NTSB hearing featured worker testimony revealing manufacturing stress and frequent repairs on Boeing's aircraft, highlighting issues at the company's factories.

"Ortberg promised to keep you informed every step of the way, sharing updates on progress and areas for improvement. He committed to providing timely reports to staff, giving you updates on what he sees and hears on the ground from our teammates and stakeholders."

Boeing recently reached a plea bargain with the U.S. government, admitting to fraud during the certification of the Max aircraft, resulting in the imposition of an independent corporate monitor at the company for three years.

In addition to dealing with the delayed certification of new 737 and 777 models in the commercial jet business, Ortberg must also address issues in its defense unit.

The Air Force One business is facing challenges with two 747s that are delayed and will serve as the next Air Force One aircraft. Meanwhile, NASA is considering using SpaceX instead of Boeing's misfiring Starliner capsule to bring astronauts Butch Wilmore and Suni Williams back from the International Space Station.

Boeing is facing a decision on whether to launch a new aircraft as Airbus gains ground.

Ron Epstein, aerospace analyst at Bank of America, stated that the first 100 days of Ortberg's tenure as CEO would be critical.

"Early decisions made during his tenure will have lasting effects on the company," he stated in a Monday note.

Boeing's workforce, consisting of thousands of new workers in factories, will require training, as experienced staff members took buyouts or were laid off during the pandemic. The union representing Boeing's factory workers in Washington state and Oregon is demanding more than 40% raises and has authorized a strike if a deal is not reached by September.

"Jon Holden, the local president of the International Association of Machinists and Aerospace Workers, stated last week that safety and quality should be given equal importance as manufacturing rates. He added that Boeing could use its potential collaboration with the new CEO as a chance to demonstrate its commitment to its workforce and recognize the exceptional manufacturing skills and capabilities of its skilled IAM members on the shop floor."

Boeing announced that Dave Calhoun would step down as CEO by year's end and would be replaced by Ortberg, who had been named as his successor.

After the door plug blowout, a larger executive shakeup occurred, with Calhoun replacing Dennis Muilenburg as head of Boeing in crisis in early 2020.

Boeing's headquarters is still in Arlington, Virginia, but its new CEO, Ortberg, will be based in the Seattle area, allowing him to closely monitor the company's commercial jetliner production, which is primarily located there.

"I have spoken with our customers and industry partners prior to today, and I can confirm that everyone wants us to succeed. In fact, many of them depend on our success. This provides us with a strong foundation to build upon."

It is crucial for Ortberg and the company to establish positive relationships with customers and suppliers who are facing challenges due to pandemic-induced demand fluctuations. Boeing's relationships with its key customers have been negatively impacted recently, and the company's leadership change occurred after airline CEOs requested a meeting with the board to address the backlog of aircraft deliveries resulting from the doorplug blowout.

Boeing's biggest customer, the airline, has scaled back its growth plans due to delivery delays of new, more-fuel efficient jets from Boeing. The airline's CEO hinted at the big feat Ortberg has ahead of him.

"We are excited to collaborate with Kelly Ortberg in his quest to restore Boeing's position as the top American aerospace company," CEO Bob Jordan stated in a written statement. "A thriving Boeing benefits both Southwest Airlines and our entire industry."

— CNBC's Michael Sheetz contributed to this article.