3M (MMM) to Consolidate Business Groups, Makes Management Adjustments
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Price: $91.41 --0%
Overall Analyst Rating:
NEUTRAL (
Up)
Dividend Yield: 6.5%
Revenue Growth %: -5.1%
Overall Analyst Rating:
NEUTRAL (
Up)Dividend Yield: 6.5%
Revenue Growth %: -5.1%
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3M (NYSE: MMM) announced a realignment of its major business groups to better serve global markets and customers.
The new structure will be comprised of five 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 six major business segments.
The company also announced new leadership roles for a number of its senior leaders.
The new structure is effective immediately, with segment reporting for the new organization effective January 1, 2013.
Electronics & Energy is 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 unchanged, with the exception of Renewable Energy moving to Electronics & Energy. Sauer formerly led 3M’s Health Care business.
Health Care, led by Executive Vice President Joaquin Delgado, remains unchanged. Delgado formerly led 3M’s Electro and Communications business.
Consumer is also unchanged and will continue to be led by Executive Vice President Mike Vale.
Chris Holmes is named senior vice president, Corporate Supply Chain Operations, succeeding John Woodworth, who has announced his intention to retire. Holmes was formerly executive vice president of Industrial and Transportation business.
The new structure will be comprised of five 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 six major business segments.
The company also announced new leadership roles for a number of its senior leaders.
The new structure is effective immediately, with segment reporting for the new organization effective January 1, 2013.
Electronics & Energy is 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 unchanged, with the exception of Renewable Energy moving to Electronics & Energy. Sauer formerly led 3M’s Health Care business.
Health Care, led by Executive Vice President Joaquin Delgado, remains unchanged. Delgado formerly led 3M’s Electro and Communications business.
Consumer is also unchanged and will continue to be led by Executive Vice President Mike Vale.
Chris Holmes is named senior vice president, Corporate Supply Chain Operations, succeeding John Woodworth, who has announced his intention to retire. Holmes was formerly executive vice president of Industrial and Transportation business.
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