Walter James "Jim" McNerney, Jr., (born 22 August 1949 in Providence, RI) is an American businessman.
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Education
McNerney graduated from New Trier High School in 1967.[1][2] 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 University, receiving a Master of Business Administration in 1975.[3]
Career
McNerney began his business career at Procter & Gamble in 1975, working in brand management.[4] 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 153,000 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.[5] 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.[6]
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.
Personal Life
In his spare time, McNerney enjoys sailing with his family, golfing, and watching hockey, one of his favorite sports, on television. He has five children, four daughters and one son.
Career Path
Procter & Gamble, 1975–1978, brand manager; McKinsey & Company, 1978–1982, senior manager; GE Mobile Communications, 1982–1988, general manager; GE Information Services, 1988–1989, president; GE Financial Services and GE Capital, 1989–1991, executive vice president; GE Electrical Distribution and Control, 1991–1992, president and chief executive officer; GE Asia-Pacific, 1993–1995, president; GE Lighting, 1995–1997, president; GE Aircraft Engines, 1997–2000, president and chief executive officer; 3M, 2000–2005, chairman and chief executive officer. 2005- CEO of The Boeing Company.
References
- ^ "The Hard Work In Leadership". BusinessWeek. http://www.businessweek.com/magazine/content/04_15/b3878012_mz001.htm. Retrieved 2007-09-30.
- ^ "Lofty expectations await Boeing CEO". Crain's Chicago Business. http://chicagobusiness.com/cgi-bin/news.pl?id=17002. Retrieved 2007-09-30.
- ^ [1]
- ^ Steady Hand, Aviation Week & Space Technology, 170, 24 (15 June 2009), p. 78
- ^ 2007 CEO Compensation for W. James McNerney Jr, Equilar.com
- ^ 2008 CEO Compensation for W. James McNerney Jr., Equilar.com
External links
| Preceded by James A. Bell |
CEO of Boeing 2005- |
Succeeded by Incumbent |
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