3M Co.’s chief executive and chairman, James McNerney Jr., said Tuesday that he’s not a candidate for the top job at Chicago-based Boeing Co.
McNerney was one of three people cited by analysts as likely candidates to be the next CEO at Boeing, where he is a board member.
“As I’ve said before, I am very happy at 3M and believe strongly in the company’s future,” he said. “I have no plans to leave in any foreseeable time frame. Rumors notwithstanding, I am not a candidate for any other job, including Boeing.”
The job opened up in March after Harry Stonecipher was forced out because of an ethics scandal involving an affair he had with a company executive.
Chief Financial Officer James Bell replaced Stonecipher on an interim basis while Boeing’s board searches for someone with more operational experience.
McNerney, 55, is a former General Electric Co. executive at the company’s aircraft engines division, and was considered a possible replacement for former CEO Jack Welch.
McNerney took over in January 2001 as chairman and CEO of 3M, which makes 55,000 products, ranging from Post-It Notes to coatings for flat-panel televisions.
Shares of 3M rose $1.03 to close at $76.93 Tuesday on the New York Stock Exchange.
