3M Announces Restructuring Initiative
3M recently announced a realignment of its major business groups to better serve global markets and customers. The new structure will be comprised of five business groups: Consumer; Industrial; Health Care; and two newly formed business groups, Safety & Graphics and Electronics & Energy.
“The change is a natural outcome of our strategy to increase relevance to our customers and to broaden our presence in the markets we serve,” said Inge Thulin, chairman, president and CEO. “By building scale more broadly, we create critical mass in each business group to take full advantage of innovation and commercialization opportunities.”
The new structure is effective immediately, with segment reporting for the new organization effective January 1, 2013.
For more information, visit www.3m.com.