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3M Taps GE Executive As New CEO

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3M

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said Tuesday it has named

General Electric

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(GE) - Get General Electric Company Report

executive W. James McNerney Jr. chairman and CEO, effective Jan. 1, 2001.

McNerney succeeds L.D. DeSimone, who will remain with the company until April 1, 2001 to ensure a smooth transition. McNerney was most recently president and CEO of

GE Aircraft Engines

, a supplier of jet engines.