James McNerney

W. James (Jim) McNerney, Jr, (born 22 August 1949 in Providence, Rhode Island) is an American business executive. He is the current CEO of Boeing Company.

Education

McNerney graduated from New Trier High School in 1967. He attended Yale University, receiving a B.A. degree in 1971. At Yale he excelled in baseball and hockey. After graduating from Yale he worked for a year at both British United Provident and G. D. Searle & Company, then attended Harvard Business School, receiving a Master of Business Administration in 1975.

Career

McNerney began his business career at Procter & Gamble in 1975, working in brand management. He worked as a management consultant at McKinsey from 1978 to 1982.

McNerney joined General Electric in 1982. There, he held top executive positions including president and CEO of GE Aircraft Engines and GE Lighting; president of GE Asia-Pacific; president and CEO of GE Electrical Distribution and Control; executive vice president of GE Capital, one of the world's largest financial service companies; and president of GE Information Services. McNerney competed with Bob Nardelli and Jeff Immelt to succeed the retiring Jack Welch as chairman and CEO of General Electric. When Immelt won the three-way succession race, McNerney and Nardelli left GE (as was Welch's plan); McNerney was hired by 3M in 2001.

From 2001 to 2005, McNerney held the position as chairman of the board and CEO of 3M, a $20 billion global technology company with leading positions in electronics, telecommunications, industrial, consumer and office products, health care, safety and other businesses.

On 30 June 2005 The Boeing Company hired McNerney as its Chairman, President and CEO. McNerney oversees the strategic direction of the Chicago-based, $61.5 billion aerospace company. With more than 160,500 employees, Boeing is the largest manufacturer of commercial jetliners and military aircraft, with capabilities in rotorcraft, electronic and defense systems, missiles, satellites and advanced information and communications systems.

While CEO of Boeing in 2007, W. James McNerney Jr. earned a total compensation of $12,904,478, which included a base salary of $1,800,077, a cash bonus of $4,266,500, options granted of $5,871,650, and Other $966,251. His total compensation in 2008 increased to $14,765,410, which included a base salary of $1,915,288, a cash bonus of $6,089,625, and options granted of $5,914,440. In 2009, his compensation decreased to $13,705,435, which included a base salary of $1,930,000, a cash bonus of $4,500,300, options granted of $3,136,251, stock granted of $3,136,242, and other compensation totaling $1,002,642.

McNerney had been a member of the Boeing board of directors since 2001. He is also a member of the board of directors of Procter & Gamble. McNerney is a current member of the Northwestern University Board of Trustees and has been named Chairman of the President's Export Council by President Barack Obama.

Career path

Job Tenure	Company	Position
1975 – 1978	Procter & Gamble	Brand Manager
1978 – 1982	McKinsey & Company	Senior Manager
1982 – 1988	GE Mobile Communications	General Manager
1988 – 1989	GE Information Services	President
1989 – 1991	GE Financial Services and GE Capital	Executive Vice President
1991 – 1992	GE Electrical Distribution and Control	President and CEO
1993 – 1995	GE Asia-Pacific	President
1995 – 1997	GE Lighting	President
1997 – 2000	GE Aircraft Engines	President and CEO
2000 – 2005	3M	President and CEO
2005 - Now	The Boeing Company	Chairman, President and CEO

External links

• W. James McNerney, Jr. executive biography

Preceded by James A. Bell

CEO of Boeing 2005-

Succeeded by Incumbent