December 3, 2000 |
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.
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.
December 5, 2000 |
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.
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.
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.
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.