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.
