3M announces new president, CEO
Inge G Thulin will take over from Sir George W Buckley who will be retiring
Inge G Thulin has been appointed as president and CEO of 3M, effective from 24th February, he succeeds Sir George W Buckley, chairman, president and CEO, who will retire on 1st June.
Thulin has immediately become a member of 3M's Board of Directors and Buckley remains chairman of the board until the Annual Meeting of Stockholders on 8th May, at which time the board intends to elect Thulin to the position of chairman.
"Inge is a proven leader with a terrific blend of strategic, business and analytical skills, and an excellent record of delivering both sales growth and operational efficiency in a wide range of global businesses. His strengths will serve 3M well and ensure that the company remains on a strong growth track driven by innovation for many years to come," said Vance D Coffman, lead director on behalf of the 3M Board.
Thulin, 58, has served as chief operating officer since May 2011, holding responsibility for 3M's six business segments and International Operations.
Under his leadership, international sales grew to nearly $20 billion and today represent two-thirds of 3M's sales. Thulin also has held numerous leadership positions in Asia Pacific, Europe and Middle East and across multiple businesses.
Buckley was appointed 3M's chairman, president and CEO in December 2005. He led the company's successful effort to reinvigorate growth and innovation, which culminated in $30 billion in sales in 2011, with new product sales now comprising nearly one-third of total sales.
"We thank George for his exemplary leadership over the last six years," said Coffman. "He achieved tremendous results for the company and navigated 3M successfully through one of the toughest economic times in recent history."