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Boeing names 3M chief as new CEO

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James McNerney (3M photo)

By AP/KWMU

Chicago, Ill. – Boeing this morning (Thursday) named the CEO of 3M Company to be its new chief executive.

James McNerney's appointment comes three months after Harry Stonecipher was forced to resign for having an affair with an executive.

The head of Boeing's St. Louis defense business, Jim Albaugh, was considered a leading candidate for the job from within the company.

McNerney will become Boeing's third boss in less than two years. Company officials say McNerney will make a similar salary to what he was making at 3M.

James Bell, who has served as interim president and CEO, will remain Boeing's chief financial officer.

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