The Boeing Company announced on Thursday they elected W. James McNerney chairman of the board, president and CEO effective on Friday, July 1. The former 3M chief comes to Boeing after recent tough times for the aircraft giant. McNerney will make the third CEO since 2003.
Boeing continues to battle with Airbus on a number of issues. Airbus recently announced plans for a factory in the U.S. and had strong commitments at the recent Paris Air Show. The two companies are also embroiled in WTO battles as both accuse each other of receiving government assistance.
The CEO problems stem from former chief Phil Condit. He stepped down after a nasty scandal involving Boeing, the Pentagon and a defense contract. Harry Stonecipher took over after Condit after copping to fooling around with a female exec at Boeing.
McNerney is no stranger to the hi-tech, nor aircraft industries. 3M makes darn near everything. He was there for 4 years. Before that, he moved around GE in various capacities including CEO of their aircraft engines division and the lighting division. GE is considered the largest corporation on earth. McNerney also hung out as director of Boeing for the last 3 years and is also a director of Proctor and Gamble.
“As a current board member, I have come to know our leadership team and have developed an enormous respect for them and for the people of Boeing. I look forward to working with all of them as we realize Boeing’s considerable potential,” McNerney said.
. Acting Boeing chief, James Bell, will slide over to the chief financial officer position and Lewis Platt will take on the lead director job.
As Airbus continues to fight with Boeing in various areas, not the least of which is actually market share, most feel McNerney is a good choice because he knows the industry and is familiar with Boeing’s strategy for the future. With any luck for Boeing, he can keep them on their current ascent.
John Stith is a staff writer for murdok covering technology and business.
