3M Co., the diversified technology company, has named aerospace veteran William Brown as its new Chief Executive Officer, after a tumultuous period of nearly six years for the previous CEO, Mike Roman. The announcement of the leadership change has resulted in a surge in the company’s shares in early trading. Brown, who previously served as the CEO of defense company L3Harris, will assume his new role on May 1, 2024. This move comes as 3M grapples with costly litigation and weak consumer demand. The appointment of Brown signals a potential shift in strategy and direction for the company.
Summary:
- 3M Co. has named aerospace veteran William Brown as its new CEO, replacing Mike Roman.
- The announcement of the leadership change has caused a jump in 3M’s shares.
- William Brown will assume his new role on May 1, 2024.
- The appointment comes as 3M faces costly litigation and weak consumer demand.
- Brown’s appointment could bring about changes in the company’s strategy and direction.
Might interest you:
“3M Co. has announced the appointment of William M. Brown as the new CEO, starting May 1, 2024…” – Reuters
William Brown’s appointment as CEO of 3M marks a significant shift in leadership for the company, following a challenging period under Mike Roman’s tenure. Roman, who will now serve as Executive Chairman, has faced various issues, including expensive legal battles and a decline in consumer demand. The choice of Brown, who brings with him a wealth of experience as the former CEO of defense company L3Harris, suggests that 3M is seeking a fresh approach to navigate these challenges and drive future success.
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