ST. PAUL, Minn. - Diversified technology company 3M (NYSE:MMM) announced a leadership transition, appointing William M. "Bill" Brown as its new chief executive officer, effective May 1, 2024. The current CEO, Michael Roman, will take on the role of Executive Chairman of the Board of Directors on the same date.
Bill Brown, 61, brings extensive experience in strategic leadership and innovation, having previously served as the CEO and Chairman of L3Harris Technologies (NYSE:LHX), a prominent aerospace and defense technology firm. Before his tenure at L3Harris, Brown held various leadership positions at United Technologies Corporation (NYSE:RTX) over a 14-year period. His educational background includes degrees in mechanical engineering from Villanova University and an MBA from The Wharton School, University of Pennsylvania.
Michael Roman, who has been at the helm of 3M since July 2018, will continue to guide the company's strategic direction in his new capacity as Executive Chairman. Roman's career at 3M spans more than 35 years, during which he has accumulated a wealth of knowledge and experience.
The company's Board of Directors has waived the mandatory retirement age of 65 years for both Roman and Brown, signaling a commitment to continuity and experienced leadership. This decision comes as 3M navigates a complex global business environment, marked by economic, political, and trade uncertainties as well as competitive challenges.
The information in this article is based on a press release statement from 3M.
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