St. Paul, Minnesota-based 3M announces that its board of directors will nominate CEO Mike Roman to serve as chairman of the board following the company’s annual meeting of shareholders in May. Inge Thulin, 3M’s current executive chairman, has announced his intention not to stand for reelection and to retire on June 1.
“Under Inge’s leadership, 3M evolved into a more agile and competitive enterprise while generating tremendous value for customers and shareholders,” says Mike Eskew, independent lead director for the 3M Board. “Today’s decision underscores the board’s confidence in Mike’s leadership and strong character to lead 3M into the future as both CEO and chairman of the board.”
“I am proud of 3M, our people, and what we’ve accomplished together,” says Thulin. “I’ve known and worked very closely with Mike, including since his appointment as CEO. I’m very confident that 3M’s best days are ahead and Mike will do a fantastic job leading 3M into the future.”
“It’s an honor to be nominated to the additional role of chairman of the board,” adds Roman. “I thank Inge for his leadership and partnership throughout my career, especially over the past year in his role as executive chairman.”
At its annual meeting in May, the 3M Board of Directors will consist of 12 members, 11 of whom will be independent directors.