Top Caliber Executive: W. James McNerney

Many executives aspire for the top position in the company they work for. Some get that position others don’t.  For a selected few not getting the top position can lead to top positions in other companies.  For other like W. James McNerney, Jr. it meant getting the top position in two other companies.

Walter James McNerney, Jr. was born in Providence, Rhode Island on August 22, 1949. His father was a professor and business executive.  McNerney went to Yale University and earned a B.A. in American Studies in 1971.

His foray into the working world after college wasn’t exactly a fast-paced rise in the corporate ladder. McNerney taught sailing in Lake Michigan. He then worked on a ranch in Colorado before holding and insurance position in London, England. Getting back to school he finished an MBA degree at Harvard University in 1975.

McNerney then started working for well-known companies. He first worked at Procter & Gamble and was a brand manager for two-and-a-half years.  Next he moved to McKinsey & Co.  in 1978 as a senior manager in Chicago, Illinois. He then took care of high technology interests for international markets working out of Germany.

The McNerney joined GE in 1982, a career defining move which cemented his credentials as a top caliber executive. He started out as vice president for GE Information Services and after that had a series of promotions and assignments as head of different multi-billion dollar businesses of GE.  His last position was as president and CEO of GE Aircraft Engines.

With Jack Welch’s impending retirement, the race was on for the next CEO of GE and McNerney was in the running. When it became obvious that he wouldn’t get the top post he left GE. Yet GE executives especially of McNerney’s caliber are always in demand. He became the CEO of 3M in January 2001.

3M operated in 60 countries, had customers in 200 countries and was a $20 billion technology company producing a range of products from health care to telecommunications. McNerney joined the company under tough economic conditions. He reorganized 3M and managed to keep it profitable.

Then on July 2005 McNerney joined The Boeing Company as president, CEO and chairman of the board. He now leads a $68.7 billion aerospace company which is the largest in the world.