Ex-Boeing chairman and CEO joins CD&R as senior advisor

W. James McNerney Jr, retired chairman and chief executive officer of The Boeing Company, joined Clayton, Dubilier & Rice as a senior advisor.

McNerney will assist in identifying and evaluating new investment opportunities, among other things, according to a news release.

McNerney stepped down as chief executive of Boeing in July after leading the plane maker for a decade, during which time he oversaw a near doubling of revenue to a record $90.8 billion in 2014. He remained at the Chicago-based company until February, when he retired as chairman of the board.

Prior to Boeing, McNerney was chairman and chief executive of 3M Company for five years. Earlier in his career, he held a range of senior executive positions at General Electric and worked at Procter & Gamble and McKinsey & Company. McNerney serves as a director of Procter & Gamble and IBM.

McNerney graduated from Yale University and holds an MBA from Harvard University.

Since its inception in 1978, CD&R has managed the investment of $21 billion in 65 businesses with an aggregate transaction value of approximately $100 billion.

In February, one of its investments, food distributor US Foods Holding Corp, which CD&R bought with Kohlberg Kravis Roberts & Co in 2007, filed for an initial public offering, seeking to raise roughly $1 billion.

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