Not too many
years ago, the temple of management was General Electric. Former CEO Jack Welch
was the high priest, and his disciples spread the word to executive suites
throughout the land. One of his most highly regarded followers, James McNerney,
was quickly snatched up by 3M after falling short in the closely watched race to
succeed Welch. 3Ms board considered McNerney a huge prize, and the companys
stock jumped nearly 20 percent in the days after December 5, 2000, when his
selection as CEO was announced. The mere mention of his name made everyone
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