James McNerney is new chairman and chief executive of Boeing

James McNerney is new chairman and chief executive of Boeing

Airline Manufacturer Boeing has named 3M Corporation CEO James McNerney as their new chairman and chief executive. This is surprising as the company ignored the candidates already inside the company. James McNerney has previously also served as chief at the General Electric Co.’s jet engine division and he now replaces Harry Stonecipher.

Harry Stonecipher was ousted as the Boeing chief after he admitted having an affair with a female Boeing executive in March this year. His place was taken by Boeing Chief Financial Officer James Bell during this interim period. He would now continue to remain in his previous job as a CFO. McNerney had previously denied having any interest in the position at the Boeing.

The other two potential candidates for the position from inside the company were Alan Mulally, head of the company’s booming commercial jet business, and James Albaugh, who leads its defense unit. The company said that these two executives were amongst the final 5-6 candidates in contention for the job.

Platt has been promoted to the lead director at Boeing as they continue to face the challenge from the European competitor Airbus.