3M Co. (MMM) Announces Management Changes

3M (NYSE: MMM) today announced two leadership changes.

In conjunction with the planned spin-off of the Health Care Business, we are announcing the departure of Jeff Lavers, group president, Health Care Business Group, effective Dec. 1.

The Health Care Business will continue to be led by the CEO of Health Care, Bryan Hanson, as the company works toward a successful spin-off.

Additionally, Ashish Khandpur, group president, Transportation and Electronics Business Group, has announced his intention to leave 3M to join another company as president and chief executive officer, effective Dec. 1.

"I want to thank Jeff and Ashish for their leadership throughout their careers at 3M, and I wish them all the best in their next chapters," said 3M Chairman and CEO Mike Roman. "Supported by our strong leadership team, 3M remains well positioned to deliver on our strategic priorities for our employees, customers, and all those who depend on 3M innovation."

3M has initiated a comprehensive internal and external search with an outside agency for Dr. Khandpur's successor. In the interim, division presidents within Transportation and Electronics will report directly to 3M Chairman and CEO Mike Roman.

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