3M Realigns Business Groups
[Wednesday, October 03, 2012] 3M today 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 (2011 sales of $4.2 billion), Industrial ($9.6 billion), Health Care ($5.0 billion) and two newly formed business groups: Safety & Graphics ($5.5 billion), and Electronics & Energy ($5.7 billion). Previously, the company operated six major business segments.
“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, 3M chairman, president and chief executive officer. “By building scale more broadly, we create critical mass in each business group to take full advantage of innovation and commercialization opportunities.”
The company also announced new leadership roles for a number of its senior leaders.
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