NEW YORK, March 2, 2016 /PRNewswire/ -- Clayton, Dubilier & Rice today announced the appointment of W. James McNerney, Jr., retired Chairman and Chief Executive Officer of The Boeing Company, as a Senior Advisor to the CD&R funds to assist in identifying and evaluating new investment opportunities, as well as driving value creation strategies at the CD&R funds' portfolio companies.
Mr. McNerney has served in senior leadership positions at some of the world's most recognized global companies. In addition to his role as Boeing's Chairman and Chief Executive Officer from 2005 to 2015, he was Chairman and Chief Executive Officer of 3M Company from 2000 to 2005. Earlier in his career, Mr. McNerney held a range of senior executive positions at General Electric between 1982 and 2000, including: President and Chief Executive Officer of GE Aircraft Engines; President of GE Lighting; President of GE Asia-Pacific; and President and Chief Executive Officer of GE Electrical Distribution and Control. Before joining GE, Mr. McNerney worked at Procter & Gamble and McKinsey & Company.
"Jim's exceptional record is one grounded in strengthening the foundations of the companies he has led, not only through productivity measures, but by inspiring new thinking, sharpening customer focus, driving profitable growth initiatives, fostering financial discipline and maintaining an unswerving commitment to integrity in all business dealings," said Donald J. Gogel, CD&R's Chairman and Chief Executive Officer. "We believe Jim is one of the most gifted, globally-minded business leaders of his generation, and, importantly, his values accord perfectly with ours."
"CD&R occupies a very special position in the investment industry, with a reputation for building and transforming businesses," said Mr. McNerney. "Culture really matters to the firm, and I find that very compelling. I very much look forward to working with the CD&R team, many of whom I have known or worked closely with over the years."
Mr. McNerney currently serves as a director of Procter & Gamble and IBM. In addition, he has played an important role in a number of civic activities. He serves on the Kennedy Center Board of Trustees and previously chaired the President's Export Council. Mr. McNerney serves on the board of trustees of the Washington, D.C.-based Center for Strategic and International Studies, a bipartisan, non-profit organization that seeks to advance global security and prosperity, and he is a past chair and previous member of the executive committee of Business Roundtable, an association of chief executive officers of leading U.S. companies. He is a Member of The Field Museum Board of Trustees in Chicago, a Trustee of Northwestern University, and the Chair of the Northwestern Memorial HealthCare Board. He also is a Fellow of the American Academy of Arts and Sciences and an Honorary Fellow of the Royal Aeronautical Society.
Mr. McNerney earned a B.A. from Yale University and an M.B.A. from Harvard University.
About Clayton, Dubilier & Rice
Founded in 1978, Clayton, Dubilier & Rice is a private investment firm with an investment strategy predicated on producing financial returns through building stronger, more profitable businesses. Since inception, CD&R has managed the investment of $21 billion in 65 businesses representing a broad range of industries with an aggregate transaction value of approximately $100 billion. The Firm has offices in New York and London. For more information, visit www.cdr-inc.com.
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