Boeing set to name 3M chief

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30 June 2005 – New York (NY): The Wall Street Journal has reported that Boeing is expected to name 3M boss Jim McNerney as its new CEO and chairman later on today.

McNerney has been on Boeing’s board since 2001 and if appointed will be the third CEO of the company since December 2003, replacing Harry Stonecipher, who was forced out in March.

Boeing and 3M officials have declined to comment on the matter, but if McNerney does take up the post it would be a dramatic turnaround. Only two months ago he said: "I am very happy at 3M and believe strongly in the company’s future. I have no plans to leave in any foreseeable time frame. Rumours notwithstanding, I am not a candidate for any other job, including Boeing."