3M Names Michael Roman New CEO

(RTTNews) - 3M (MMM) Monday said it has appointed Michael Roman as the new Chief Executive Officer, effective July 1, 2018. Meanwhile, current CEO Inge Thulin will move to a newly created position of Executive Chairman of the board.

"After a thorough and thoughtful succession planning process, Mike is the clear choice to lead 3M into the future as CEO," said Thulin. "He is an accomplished, results-oriented and high-integrity leader, with an excellent track record of growing sales, improving operational efficiency and increasing value across a wide range of global businesses."

Roman has served as chief operating officer and executive vice president since July 2017, with direct responsibility for 3M's five business groups, along with the company's international operations.

"It is an honor to lead 3M into the future," said Roman. "Inge's leadership has taken 3M to new heights, and I look forward to building on our momentum and delivering value for customers and shareholders."

In his new role as executive chairman of the board, Thulin will continue to chair 3M's Board of Directors while also working closely with Roman on longer-term strategic initiatives for the company. Thulin has served as 3M's chairman of the board, president and chief executive officer since 2012.