3M Co. Announces CEO Change and Executive Appointments

Ticker: MMM · Form: 8-K · Filed: 2024-03-12T00:00:00.000Z

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

Key Players & Entities

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.

From the Filing

0000066740-24-000029.txt : 20240312 0000066740-24-000029.hdr.sgml : 20240312 20240312063201 ACCESSION NUMBER: 0000066740-24-000029 CONFORMED SUBMISSION TYPE: 8-K PUBLIC DOCUMENT COUNT: 16 CONFORMED PERIOD OF REPORT: 20240308 ITEM INFORMATION: Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers: Compensatory Arrangements of Certain Officers FILED AS OF DATE: 20240312 DATE AS OF CHANGE: 20240312 FILER: COMPANY DATA: COMPANY CONFORMED NAME: 3M CO CENTRAL INDEX KEY: 0000066740 STANDARD INDUSTRIAL CLASSIFICATION: SURGICAL & MEDICAL INSTRUMENTS & APPARATUS [3841] ORGANIZATION NAME: 08 Industrial Applications and Services IRS NUMBER: 410417775 STATE OF INCORPORATION: DE FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: 8-K SEC ACT: 1934 Act SEC FILE NUMBER: 001-03285 FILM NUMBER: 24740141 BUSINESS ADDRESS: STREET 1: 3M CENTER STREET 2: BLDG. 220-13E-26A CITY: ST PAUL STATE: MN ZIP: 55144-1000 BUSINESS PHONE: 6517331474 MAIL ADDRESS: STREET 1: 3M CENTER STREET 2: BLDG. 220-13E-26A CITY: ST. PAUL STATE: MN ZIP: 55144-1000 FORMER COMPANY: FORMER CONFORMED NAME: MINNESOTA MINING & MANUFACTURING CO DATE OF NAME CHANGE: 19920703 8-K 1 mmm-20240308.htm 8-K mmm-20240308 FALSE 0000066740 0000066740 2024-03-08 2024-03-08 0000066740 exch:XNYS us-gaap:CommonStockMember 2024-03-08 2024-03-08 0000066740 exch:XCHI us-gaap:CommonStockMember 2024-03-08 2024-03-08 0000066740 exch:XNYS mmm:Notes1500PercentDue2026Member 2024-03-08 2024-03-08 0000066740 exch:XNYS mmm:Notes1750PercentDue2030Member 2024-03-08 2024-03-08 0000066740 exch:XNYS mmm:Notes1.500PercentDue2031Member 2024-03-08 2024-03-08 UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 FORM 8-K CURRENT REPORT PURSUANT TO SECTION 13 OR 15(D) OF THE SECURITIES EXCHANGE ACT OF 1934 Date of report (Date of earliest event reported): March 8, 2024 3M COMPANY (Exact Name of Registrant as Specified in Its Charter) Delaware File No. 1-3285 41-0417775 (State or other jurisdiction of incorporation) (Commission File Number) (IRS Employer Identification No.) 3M Center , St. Paul , Minnesota 55144-1000 (Address of Principal Executive Offices) (Zip Code) (Registrant’s Telephone Number, Including Area Code) ( 651 ) 733-1110 Not Applicable (Former Name or Former Address, if Changed Since Last Report) Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions ( see General Instruction A.2. below): ☐ Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425) ☐ Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12) ☐ Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b)) ☐ Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c)) Securities registered pursuant to Section 12(b) of the Act: Title of each class Trading Symbol(s) Name of each exchange on which registered Common Stock, Par Value $.01 Per Share MMM New York Stock Exchange MMM Chicago Stock Exchange, Inc. 1.500% Notes due 2026 MMM26 New York Stock Exchange 1.750% Notes due 2030 MMM30 New York Stock Exchange 1.500% Notes due 2031 MMM31 New York Stock Exchange Note: The common stock of the Registrant is also traded on the SIX Swiss Exchange. Securities registered pursuant to section 12(g) of the Act: None Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (17 CFR §230.405) or Rule 12b-2 of the Securities Exchange Act of 1934 (17 CFR §240.12b-2). Emerging growth company      ☐ If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursua

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