3M re-organises business

The company announced new roles for a number of its senior leaders

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3M re-organises business 3M chairman Inge Thulin.
By  ITP.net Staff Writer Published  October 16, 2012

3M yesterday announced a comprehensive realignment of its major business groups to better serve global markets and customers.

The new structure will be comprised of five separate business groups: Consumer (2011 sales of $4.2 billion), Industrial ($9.6 billion), Health Care ($5.0 billion) and two newly formed business groups: Safety & Graphics ($5.5 billion), and Electronics & Energy ($5.7 billion). Previously, the company operated as six distinct major business segments.

“The change is a natural outcome of our strategy to increase relevance to our customers and to broaden our presence in the markets we serve,” says Inge Thulin, 3M chairman, president and chief executive officer. “By building scale more broadly, we create critical mass in each business group to take full advantage of innovation and commercialization opportunities.”

The company also announced new leadership roles for a number of its senior leaders.

“3M’s strong, diverse leadership team has performed very well and very consistently,” Thulin said. “This realignment not only matches our leaders’ proven skills with new opportunities, but also improves our competitiveness in the marketplace.”

The new structure is effective immediately, with segment reporting for the new organization effective January 1, 2013. In first quarter of 2013, subsequent to filing its annual form 10K, the company will communicate restated historical financial results for the new business groups.

Electronics & Energy will be led by executive vice president Mike Kelly, former head of 3M’s Display and Graphics business. Safety & Graphics is led by executive vice president Julie Bushman, former head of 3M’s Safety, Security and Protection Services business. Industrial, led by executive vice president Brad Sauer, remains largely unchanged, although Renewable Energy is moving to Electronics & Energy. Consumer is also unchanged and will continue to be led by executive vice president Mike Vale.

Chris Holmes is newly-named senior vice president, corporate supply chain operations, succeeding John Woodworth, who has announced his intention to retire.
3M is exhibiting at GITEX TECHNOLOGY WEEK 2012 in Concourse 1, in front of Halls 1-3.

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