Boeing Co.‘s board of directors elected James McNerney Jr. as the company’s new chairman, president and CEO, Boeing officials announced June 30.

McNerney joins Boeing after serving as chairman and CEO of 3M since January 2001. McNerney has been a member of the board of directors of Boeing for three-and-a-half years.

Before joining 3M, he held executive positions at General Electric Co., including president and CEO of GE Aircraft Engines and GE Lighting; president of GE Asia-Pacific and president and CEO of GE Electrical Distribution and Control. McNerney also served as executive vice president of GE Capital, which provides airplane leasing and financing services.

James Bell, who served as Boeing’s interim president and CEO, will remain the company’s CFO.