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New Boeing CEO doesn't think Albaugh will leave

Jim Albaugh (Boeing photo)
Jim Albaugh (Boeing photo)

By Tom Weber, KWMU

St. Louis, MO – Boeing's new CEO says he thinks St. Louis-based executive Jim Albaugh will stay with the company.

The company went outside its ranks in naming Jim McNerney its new chief executive on Thursday. McNerney will quit his job as CEO of 3M Company to become Boeing's new boss.

He was picked over Jim Albaugh, who heads Boeing's St. Louis defense business. Albaugh and another executive (Alan Mulally) were considered top internal candidate for the job.

But McNerney said in a conference call Thursday he thinks the two will stay.

"Obviously there must have been a note of disappointment for them because these two gentlemen are very, very capable executives," McNerney said. "I am enthused about them staying on and I'm delighted to report that they're enthused about working with me.

"I've known these guys for a number of years and I think the board, as well as me, are very happy with their performance."

McNerney will become Boeing's third boss in less than two years.

Boeing stock jumped to an all-time high Thursday morning after Wall Street heard of McNerney's hiring.