Boeing to Name 3M's McNerney As Its New Chief

After Series of Scandals, Aerospace Giant Selects Outsider to Help Fix Image

The Wall Street Journal 06/30/05
author: J. Lynn Lunsford
author: Joann S. Lublin
author: Michael J. McCarthy
(Copyright (c) 2005, Dow Jones & Company, Inc.)

Boeing Co. is expected today to name 3M Co. Chairman and Chief Executive W. James McNerney Jr. as its new CEO, tapping an outside leader with aviation-industry experience to help repair the company's reputation in the wake of a series of scandals.

Mr. McNerney, who earlier ran General Electric Co.'s jet-engine unit and has served on the Boeing board since 2001, becomes the aerospace giant's third top official in the past year and a half. Widely respected in the aerospace industry, Mr. McNerney has been pursued by Boeing's board off and on for much of that time. He knows both the commercial aircraft and military businesses, and has been known as an adept turnaround artist in previous posts.