“We are continuing to advance 3M into the future, and today’s actions will strengthen our ability to meet the fast-moving needs of our customers,” said 3M CEO Mike Roman. “Our new alignment will leverage our business transformation progress, accelerate growth and deliver greater operational efficiencies.”
The new structure will be comprised of four business segments: Safety & Industrial, Transportation & Electronics, Health Care, and Consumer.
• Safety & Industrial: This segment includes businesses that serve the global industrial, electrical and safety markets. This business segment will consist of personal safety, adhesives and tapes, abrasives, closure and masking systems, electrical markets, automotive aftermarket, and roofing granules. This segment will have estimated annual revenue of $12 billion.
• Transportation & Electronics: This segment includes businesses that serve global transportation and electronic original equipment manufacturer (OEM) customers. This business segment will consist of electronics (display materials and systems, electronic materials solutions), automotive and aerospace, commercial solutions, advanced materials, and transportation safety. This segment will have estimated annual revenue of $10 billion.
• Health Care: This business segment serves the global healthcare industry and will include medical solutions, oral care, separation and purification sciences, health information systems, drug delivery systems, and food safety. This segment will have estimated annual revenue of $7 billion.
• Consumer: This business serves global consumers and consists of home improvement, stationery and office supplies, home care, and consumer health care. Home improvement will also include the retail auto care business that was previously a part of the company’s automotive aftermarket business. This segment will have estimated annual revenue of $5 billion.
3M also announced the following leadership appointments effective April 1, 2019:
• Michael Vale is appointed EVP, Safety & Industrial Business Group. Vale currently is EVP, Health Care Business Group.
• Ashish Khandpur, is appointed EVP, Transportation & Electronics Business Group. Khandpur currently is EVP, Electronics & Energy Business Group.
• Mojdeh Poul is appointed EVP, Health Care Business Group. Poul currently is EVP, Safety & Graphics Business Group.
• Paul Keel is appointed EVP, Consumer Business Group. Keel currently is SVP, business development and marketing-sales.
• Denise Rutherford is appointed SVP, corporate affairs. Rutherford currently is VP, R&D and commercialization, Industrial Business Group. She has led businesses and functions around the world including in Asia and Latin America.
• Stephen Shafer is appointed SVP, business development and marketing-sales. Shafer currently is VP Greater China Area of 3M and managing director of 3M China.
“3M has a highly talented and diverse group of leaders, and today’s appointments position us well for the future,” Roman said. “I have confidence in each of these leaders as they take on new and expanded roles, and look forward to working with them to create greater value for customers, shareholders and 3M.”
In addition, James Bauman, EVP, Industrial Business Group, and Joaquin Delgado, EVP, Consumer Business Group, have announced their intention to retire.
“Throughout their distinguished careers, Jim and Joaquin have built and led businesses, developed others and created tremendous value for our customers,” Roman continued. “On behalf of all 3Mers, I thank Jim and Joaquin for their contributions, and wish them well in the future.”