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March 12, 2003
By: TOM BRANNA
Editor
The Procter & Gamble Company, Cincinnati, OH, elected W. James McNerney, Jr, chairman of the board and chief executive officer of 3M, to the company’s board of directors effective May 1.“3M is a great company with an enviable record of commercial and financial successes,” stated A.G. Lafley, chairman of the board, president and chief executive. “Jim’s leadership in delivering innovation to build consumer, customer and shareholder value make him an outstanding board member.”McNerney holds a BA from Yale University and an MBA degree from Harvard University. Prior to becoming chairman of the board and chief executive officer of 3M, his career included key positions at General Electric and McKinsey & Company. His first job was in brand management at P&G.A company spokeswoman said the board now has 19 directors, of which 16 are independent.
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