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BUSINESS
July 1, 2005 | Peter Pae, Times Staff Writer
Boeing Co. turned to an outsider Thursday to repair its reputation after a series of high-profile ethics scandals, naming 3M Chairman W. James McNerney Jr. as its new chief executive. McNerney, 55, is the third CEO at the world's largest aerospace company since December 2003, when Philip M. Condit resigned during a defense contracting scandal that ultimately sent two Boeing executives to jail. Harry C.
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BUSINESS
July 7, 2005 | From Bloomberg News
Boeing Co.'s James McNerney, who became chief executive of the No. 2 U.S. defense contractor July 1, got a pay package valued at $53 million, including $25.3 million in stock awards to replace what he would have received as CEO of 3M Co. McNerney will receive an annual salary of $1.75 million and a bonus of as much as $4.03 million a year, Chicago-based Boeing said in a Securities and Exchange Commission filing.
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BUSINESS
July 7, 2005 | From Bloomberg News
Boeing Co.'s James McNerney, who became chief executive of the No. 2 U.S. defense contractor July 1, got a pay package valued at $53 million, including $25.3 million in stock awards to replace what he would have received as CEO of 3M Co. McNerney will receive an annual salary of $1.75 million and a bonus of as much as $4.03 million a year, Chicago-based Boeing said in a Securities and Exchange Commission filing.
BUSINESS
July 1, 2005 | Peter Pae, Times Staff Writer
Boeing Co. turned to an outsider Thursday to repair its reputation after a series of high-profile ethics scandals, naming 3M Chairman W. James McNerney Jr. as its new chief executive. McNerney, 55, is the third CEO at the world's largest aerospace company since December 2003, when Philip M. Condit resigned during a defense contracting scandal that ultimately sent two Boeing executives to jail. Harry C.
BUSINESS
October 15, 1996 | Times Staff and Wire Reports
Hughes' Armstrong Seen as Top Contender for AT&T Job: C. Michael Armstrong, the chairman and chief executive of Hughes Electronics Corp., is the leading candidate for the job of AT&T Corp. president, the New York Times reported in today's editions. The new president is likely to be the eventual successor to Chairman Robert E. Allen. The announcement could come as early as Wednesday, after AT&T's board is expected to make a decision at a regularly scheduled meeting, the paper said.
BUSINESS
December 5, 2000 | Associated Press
Shares of 3M rose more than 5% following a report that the Maplewood, Minn.-based company has chosen General Electric Co. executive W. James McNerney as its next chief executive. The Wall Street Journal, citing unidentified sources, reported that McNerney will succeed L.D. DeSimone, 64, who is expected to retire from Minnesota Mining & Manufacturing Co. next summer. 3M spokesman Chris Welsh said the report was "just a rumor" and would not comment on it.
BUSINESS
August 2, 1997 | Bloomberg News
General Electric Co. shuffled some top management in a move that renewed speculation about who will succeed John Welch as chairman and chief executive of the nation's most valuable company. Among those promoted were W. James McNerney Jr., 47, who runs GE's lighting business. He will replace Eugene Murphy as head of GE's aircraft engines unit, a larger business. McNerney has been touted among investors and securities analysts as a leading contender in the race for Welch's job.
BUSINESS
May 13, 2005 | From Reuters
3M Co. on Thursday said it would acquire filtration products maker Cuno Inc. for about $1.35 billion in a move to capitalize on the growing need for water purification globally. Water purification is being targeted as a high-growth market by other companies, including General Electric Co. Global liquid and air filtration is a more than $30-billion market and is growing more than 8% a year, 3M said. "The size of the opportunity here is huge," said 3M Chairman and Chief Executive W.
BUSINESS
May 20, 2013 | By Tiffany Hsu
The first Boeing Co. 787 Dreamliner to fly under the United Airlines name since a mass grounding ordered by the government earlier this year has landed at Chicago. On board the high-tech jet, which departed from Houston at 11 a.m. local time on Monday: Boeing Chief Executive W. James McNerney Jr. and Jeff Smisek, chief executive of United Continental Holdings Inc. The voyage, dubbed United Flight 1, holds deep symbolic weight for Boeing and United, which is the only American carrier to fly the 787. The Dreamliner is emerging from months of tinkering and testing after the U.S. Federal Aviation Administration on Jan. 16 ordered all of the planes parked due to concerns about its lithium-ion battery system.
BUSINESS
November 17, 2009 | Bloomberg News
Boeing Co., whose 787 Dreamliner jet has been delayed more than two years by production difficulties, was sued by investors claiming company executives made misleading public statements about when the aircraft would be flight ready. The city of Livonia, Mich., employees' retirement system filed the complaint Nov. 13 in federal court in Chicago, seeking class-action, or group, status on behalf of all investors allegedly misled by statements made from May 4 to June 22. Also named as defendants were Boeing Chief Executive W. James McNerney and Scott E. Carson, who in August announced he would step down from leading the Chicago-based company's commercial airplane division.
NEWS
December 3, 2000 | LISA GIRION, TIMES STAFF WRITER
Longtime General Electric Co. Chairman and Chief Executive John F. Welch Jr. did for corporate succession last week what Al Gore has done for dangling chads: Turn the esoteric into a hot topic, however fleeting. OK, so the circle of people talking about how corporate America chooses its leaders is a bit smaller than the global buzz over the most arcane aspects of presidential vote counting. But for many of the nation's movers and shakers, the anointment of inside front-runner Jeffrey R.
BUSINESS
July 28, 2005 | From Associated Press
Boeing Co.'s second-quarter results breezed past Wall Street's earnings expectations Wednesday and the aerospace company boosted its profit outlook, predicting continued strong demand for its commercial airplanes. Profit in the quarter fell 7%, mostly from a charge related to the sale of commercial airplane facilities in Kansas and Oklahoma, and because earnings from a year earlier were boosted by a tax refund.
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