3M Co. Announces CEO Change and Executive Appointments
Ticker: MMM · Form: 8-K · Filed: Mar 12, 2024 · CIK: 66740
| Field | Detail |
|---|---|
| Company | 3m CO (MMM) |
| Form Type | 8-K |
| Filed Date | Mar 12, 2024 |
| Risk Level | medium |
| Pages | 5 |
| Reading Time | 5 min |
| Key Dollar Amounts | $1,800,000, $3,150,000, $3,000,000, $2,500,000 b, $4,333,333 b |
| Sentiment | neutral |
Sentiment: neutral
Topics: executive-change, leadership, management-transition
Related Tickers: MMM
TL;DR
New CEO at 3M, Roman out, Vale in. Big leadership shakeup.
AI Summary
On March 8, 2024, 3M Company announced changes in its executive leadership, including the appointment of Michael Vale as Chief Executive Officer and the departure of Michael Roman. The company also reported on its compensatory arrangements for certain officers.
Why It Matters
This filing indicates a significant leadership transition at 3M, which could impact the company's strategic direction and future performance.
Risk Assessment
Risk Level: medium — Leadership changes can introduce uncertainty regarding future strategy and operational execution.
Key Numbers
- 1-3285 — SEC File Number (Identifies the company's filing with the SEC.)
- 41-0417775 — IRS Number (Company's tax identification number.)
Key Players & Entities
- 3M Company (company) — Registrant
- Michael Vale (person) — Appointed Chief Executive Officer
- Michael Roman (person) — Departing Chief Executive Officer
- Delaware (jurisdiction) — State of Incorporation
FAQ
Who has been appointed as the new Chief Executive Officer of 3M Company?
Michael Vale has been appointed as the new Chief Executive Officer of 3M Company.
Who is the departing Chief Executive Officer?
Michael Roman is the departing Chief Executive Officer.
What is the date of the earliest event reported in this 8-K filing?
The date of the earliest event reported is March 8, 2024.
In which state was 3M Company incorporated?
3M Company was incorporated in Delaware.
What type of SEC filing is this?
This is a Current Report on Form 8-K.
Filing Stats: 1,351 words · 5 min read · ~5 pages · Grade level 11.1 · Accepted 2024-03-12 06:32:01
Key Financial Figures
- $1,800,000 — n will receive an annual base salary of $1,800,000 and a target annual incentive compensat
- $3,150,000 — l incentive compensation opportunity of $3,150,000, each of which will be prorated for 202
- $3,000,000 — He also will receive a hiring bonus of $3,000,000 and be eligible to participate in the C
- $2,500,000 b — 3M common stock determined by dividing $2,500,000 by the closing sales price for a share of
- $4,333,333 b — rformance shares determined by dividing $4,333,333 by the closing sales price for a share of
Filing Documents
- mmm-20240308.htm (8-K) — 39KB
- pressrelease31224.htm (EX-99.1) — 12KB
- 0000066740-24-000029.txt ( ) — 245KB
- mmm-20240308.xsd (EX-101.SCH) — 3KB
- mmm-20240308_def.xml (EX-101.DEF) — 18KB
- mmm-20240308_lab.xml (EX-101.LAB) — 32KB
- mmm-20240308_pre.xml (EX-101.PRE) — 19KB
- mmm-20240308_htm.xml (XML) — 7KB
01. Financial Statements and Exhibits
Item 9.01. Financial Statements and Exhibits. (d) Exhibits: Exhibit Number Description 99.1 Press release, dated March 12, 2024, issued by 3M Company. 104 Cover Page Interactive Data File (the cover page XBRL tags are embedded in the Inline XBRL document). SIGNATURE Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrant has duly caused this report to be signed on its behalf by the undersigned thereunto duly authorized. 3M COMPANY By: /s/ Michael M. Dai Michael M. Dai Vice President, Associate General Counsel & Secretary Dated: March 12, 2024