(Reuters) - Boeing ( BA ) said on Friday that Ted Colbert, president and CEO of its defense, space and security unit will be leaving the company effective immediately.

The planemaker said Steve Parker, the unit's chief operating officer, will take over Colbert's responsibilities until a replacement is named at a later date.

Colbert's departure comes at a time when Boeing ( BA ) has been trying to save cash by announcing furloughs amid a strike by more than 32,000 of its workers.

Boeing's ( BA ) shares closed down about 1% on Friday and have lost about 41% so far this year.