July 7, 2005 |
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.
October 15, 1996 |
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.
August 2, 1997 |
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.
May 13, 2005 |
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.
November 17, 2009 |
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.
May 20, 2013 |
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.