St. Paul, MN, June 30--3M Co. Chairman and CEO W. James McNerney Jr. has been named to the post of CEO at Boeing Co
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, 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. McNerney, 55 years old, was also named Boeing's chairman.
The appointment comes three months after former Boeing chief executive Harry Stonecipher was unexpectedly forced out.
McNerney said publicly during the spring that he wasn't interested in leaving 3M. According to people familiar with the situation, his position changed in recent weeks after discussions with Boeing board members and others in the industry.
