CEO Watch: 3M names successor to Thulin
3M said that COO and Executive Vice President Michael F. Roman would become CEO effective July 1, succeeding Inge Thulin who will transition to the new created role of Executive Chairman of the Board. The transition is the result of a succession plan that became apparent last summer when Roman, 58, was named to his current role at the $32 billion company.
“After a thorough and thoughtful succession planning process, Mike (Roman) 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 COO and Executive Vice President since July 2017, with direct responsibility for 3M’s five business groups, along with the company’s international operations. He has held several other key leadership roles throughout his 30-year career at 3M. He led the company’s largest business group, Industrial, which accounts for one-third of 3M’s worldwide sales. Prior to that, he served as 3M’s chief strategist, where he worked closely with Thulin to develop 3M’s strategic roadmap. He has also lived in and led 3M businesses around the world, including the United States, Europe and Asia.
“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.